To limit the imposition of excise taxes and fees on money transmitting businesses, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill expands a reporting req, definition change provision: 2. Findings The Congress finds the following: Remittances are essential cross-border flows of funds from diaspora community members who sent money or goods and expands a compliance mandate, definition change provision: 3. Excise taxes and fees Notwithstanding any other provision of law. it is not permissible for the Federal Government to require a money transmitting business. It relies on definition changes, reporting requirements, and compliance mandates. The main policy areas are Finance and Healthcare.
Who Benefits and How
The available clause analysis does not identify a specific beneficiary group.
Who Bears the Burden and How
No clear private burden is identified from the available clause analysis; implementing agencies may still take on administrative work.
Key Provisions
- Expands a reporting req, definition change provision: 2. Findings The Congress finds the following: Remittances are essential cross-border flows of funds from diaspora community members who sent money or goods...
- Expands a compliance mandate, definition change provision: 3. Excise taxes and fees Notwithstanding any other provision of law. it is not permissible for the Federal Government to require a money transmitting business...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for primary purpose and policy domains.
At a Glance
What This Bill Does
The bill expands a reporting req, definition change provision: 2. Findings The Congress finds the following: Remittances are essential cross-border flows of funds from diaspora community members who sent money or goods and expands a compliance mandate, definition change provision: 3. Excise taxes and fees Notwithstanding any other provision of law. it is not permissible for the Federal Government to require a money transmitting business.
Key Policy Areas
Finance, Healthcare
Primary Purpose
The bill expands a reporting req, definition change provision: 2. Findings The Congress finds the following: Remittances are essential cross-border flows of funds from diaspora community members who sent money or goods and expands a compliance mandate, definition change provision: 3. Excise taxes and fees Notwithstanding any other provision of law. it is not permissible for the Federal Government to require a money transmitting business.
Policy Domains
Sponsors
Legislative Progress
IntroducedMr. Liccardo (for himself, Mr. Correa, Mr. Torres of New …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_treasury"
- → Secretary of the Treasury
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology