[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 672 Introduced in House (IH)]
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118th CONGRESS
1st Session
H. R. 672
To establish trust funds relating to border security, and for other
purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 31, 2023
Mr. Moran (for himself, Mr. DesJarlais, Mr. Ellzey, Ms. Granger, Mr.
Babin, Mr. Gooden of Texas, Mr. Nehls, Ms. Van Duyne, Mr. Weber of
Texas, Mr. Cloud, Mr. Self, Mr. Luttrell, and Mr. Jackson of Texas)
introduced the following bill; which was referred to the Committee on
Homeland Security, and in addition to the Committee on Financial
Services, for a period to be subsequently determined by the Speaker, in
each case for consideration of such provisions as fall within the
jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To establish trust funds relating to border security, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Border Security Investment Act''.
SEC. 2. ESTABLISHMENT OF TRUST FUNDS RELATING TO BORDER SECURITY.
(a) Additional Remittance Transfer Fees.--Section 920 of the
Electronic Fund Transfer Act (relating to remittance transfers) (15
U.S.C. 1693o-1) is amended--
(1) by redesignating subsection (g) as subsection (h); and
(2) by inserting after subsection (f) the following:
``(g) Additional Remittance Fees.--
``(1) In general.--A remittance transfer provider that is a
money services business shall impose a fee on each person
sending a remittance transfer to a covered country in an amount
equal to 37 percent of the remittance transfer amount.
``(2) Transfer of fees.--All fees collected under this
subsection shall be submitted to the Department of the Treasury
for deposit in the general fund, in such form and in such
manner as the Secretary of the Treasury shall establish by
rule.
``(3) Definitions.--In this subsection:
``(A) Covered country.--With respect to a fiscal
year, the term `covered country' means each country
identified by the Commissioner of U.S. Customs and
Border Protection as one of the 5 countries that had
the most citizens or nationals unlawfully enter the
United States during the previous fiscal year.
``(B) Money services business.--The term `money
services business' has the meaning given that term
under section 1010.100 of title 31, Code of Federal
Regulations.''.
(b) Border Security State Reimbursement Trust Fund.--
(1) In general.--There is established in the Treasury a
trust fund, to be known as the ``Border Security State
Reimbursement Trust Fund'' (in this section referred to as the
``Reimbursement Fund''), consisting of amounts transferred
under paragraph (2) and any amounts credited under paragraph
(3).
(2) Transfer.--In fiscal year 2025 and each fiscal year
thereafter, the Secretary of the Treasury shall transfer to the
Reimbursement Fund, from the general fund of the Treasury, an
amount equal to fifty percent of the total amount of remittance
fees collected under subsection (g)(2) of section 920 of the
Electronic Fund Transfer Act (relating to remittance transfers;
15 U.S.C. 1693o-1) during the immediately preceding fiscal
year.
(3) Investment of amounts.--
(A) In general.--The Secretary of the Treasury
shall invest such portion of the Reimbursement Fund as
is not required to meet current withdrawals in
interest-bearing obligations of the United States or in
obligations guaranteed as to both principal and
interest by the United States.
(B) Interest and proceeds.--The interest on, and
the proceeds from the sale or redemption of, any
obligations held in the Reimbursement Fund shall be
credited to the Reimbursement Fund.
(4) Purpose; application.--
(A) In general.--Amounts in the Reimbursement Fund
shall be available to the Secretary of Homeland
Security, without further appropriation, to reimburse
border States for expenditures incurred by such States
relating to border security enforcement measures.
(B) Application.--Not later than 30 days after the
beginning of any fiscal year beginning in fiscal year
2025, a border State may apply to the Secretary to
receive amounts from the Reimbursement Fund by
submitting receipts, in such form and manner as the
Secretary deems appropriate, of expenditures relating
to border security enforcement measures made during the
immediately preceding fiscal year.
(C) Amount.--The Secretary shall promptly
distribute from the Reimbursement Fund, to any border
State that submits an application under subparagraph
(B), an amount equal to the proportion that the amount
expended by such a border State in the applicable
immediately preceding fiscal year bears to the total
amount expended in such fiscal year by all such border
States so submitting an application.
(D) Border security enforcement measures.--In this
subparagraph, an expenditure by a border State shall be
deemed to be related to border security enforcement
measures if that expenditure directly or indirectly was
used for the mission of deterring unlawful crossings,
detecting unlawful activity and entry into the United
States, or for gaining operational control of the
southwest border.
(c) Border Security Trust Fund.--
(1) In general.--There is established in the Treasury a
trust fund, to be known as the ``Border Security Trust Fund''
(in this section referred to as the ``Security Fund''),
consisting of amounts transferred under paragraph (2) and any
amounts credited under paragraph (3).
(2) Transfers.--In fiscal year 2025 and each fiscal year
thereafter, the Secretary of the Treasury shall transfer to the
Security Fund, from the general fund of the Treasury, an amount
equal to fifty percent of the total amount of remittance fees
collected under subsection (g)(2) of section 920 of the
Electronic Fund Transfer Act (relating to remittance transfers;
15 U.S.C. 1693o-1) during the immediately preceding fiscal
year.
(3) Investment of amounts.--
(A) In general.--The Secretary of the Treasury
shall invest such portion of the Security Fund as is
not required to meet current withdrawals in interest-
bearing obligations of the United States or in
obligations guaranteed as to both principal and
interest by the United States.
(B) Interest and proceeds.--The interest on, and
the proceeds from the sale or redemption of, any
obligations held in the Security Fund shall be credited
to the Security Fund.
(4) Purposes.--Amounts in the Security Fund shall be
available to the Secretary of Homeland Security, without
further appropriation, for the following purposes:
(A) The deployment of technology intended to detect
and prevent unlawful crossings along the United States-
Mexico border.
(B) The installation of physical barriers at the
southern border.
(C) Wages and salaries for U.S. Border Patrol
agents.
(d) Rescission of Excess Amounts.--If the sum of the total funds in
each of the Reimbursement Fund and the Security Fund is greater than
$50,000,000,000, an amount equal to the funds in excess of
$50,000,000,000 shall be--
(1) permanently rescinded from such total funds; and
(2) deposited in the general fund of the Treasury where
such funds shall be--
(A) dedicated for the sole purpose of deficit
reduction; and
(B) prohibited from use as an offset for other
spending increases or revenue reductions.
(e) Effective Date.--This Act and the amendment made by this Act
shall take effect and apply beginning on January 1, 2024.
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