HB 5A: Combatting Illegal Immigration

Summary

Combatting Illegal Immigration; Prohibits licensed money services businesses from initiating foreign remittance transfers unless they have verified that sender is not unauthorized alien; defines "foreign remittance transfer"; requires licensees to submit certain forms & penalties to Office of Financial Regulation of FSC; requires office to deposit such penalties into certain fund; requires that licensees make, keep, & preserve for 5 years records of certain documentation & penalties paid; authorizes office to request, & requires licensees to provide, records of certain documentation; authorizes filing of complaints; provides criminal penalties for knowingly filing false or frivolous complaints; imposes requirements on office upon receipt of valid complaint substantiated by evidence of violation; specifies that failure to comply with certain provisions constitutes grounds for suspension of all licenses issued by office.

Latest recorded action

1st Reading (Original Filed Version)

Jan 27, 2025

This is the latest action supplied by the source, not the full legislative history.

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