,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #dbgd  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #b1 #bjbe,mr4   
,licc>do 7= himself1 ,mr4 ,correa1 ,mr4 
,torres ( ,new ,york1 ,mr4 ,v>gas1 ,mr4 
,vic5te ,gonzalez ( ,texas1 ,mr4        
,espaillat1 ,mr4 ,g>ca ( ,ill9ois1 &    
,mr4 ,subramanyam7 introduc$ ! foll[+   
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means1 & 9 addition to !       
,committee on ,f9ancial ,s]vices1 = a   
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to limit
 ! imposition ( excise taxes & fees on  
money transmitt+ bus9esses1 & = o!r     
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,remittance ,exp5se        
,m9imization & ,integrity = ,transf]s   
,act or ! ,,remit ,act ( #bjbe4  #b4    
,f9d+s ,! ,congress f9ds ! foll[+3  7#a7
 ,remittances are ess5tial cross-bord]  
fl[s ( funds f diaspora community memb]s
 :o s5t money or goods f :]ev] !y reside

 to _! home c\ntries4 ,:ile typically   
only a few hundr$ doll>s p] transaction1
 ! total remittance m>ket is e/imat$ by 
! ,int]national ,monet>y ,fund to be ov]
 #ejj1jjj1jjj1jjj globally4 ,^! funds   
are s significant to ! recipi5t c\ntries
 t !y c make up p]c5tages ( _! ,gross   
,dome/ic ,product & are significant     
factors 9 ! elim9ation ( pov]ty & !     
/abilization ( economies4  7#b7 ,a #bjaf
 report f ,gov]nm5t ,acc\ntability      
,(fice f\nd t f9es on remittances did n 
/op ! fl[ ( remittances1 b r l$ to      
consum]s us+ unregulat$ transf] me?ods4 
7#c7 ,9 a ,may #bjbc report1 !          
,congressional ,rese>* ,s]vice          
corroborat$ t _m alt]native remittance  
sy/ems1 also kn[n z ,in=mal ,value      
,transf] ,sy/ems 7,,ivts71 lack (       
docum5tation & _! anonymity & in=mality 
c make !m attractive = money laund]+1   
t]rori/ f9anc+1 & o!r illegal purposes4 
7#d7 ,a ,july #e1 #bjbb1 ,dep>tm5t ( !  
,treasury ,f9ancial ,crimes ,en=cem5t   
,network reit]at$ long/&+ f9ancial-crime

 conc]ns ab\t ,,ivts & t ,,ivts are be+ 
us$ to fund attempt$ t]rori/ attacks1   
includ+ aga9/ ! ,unit$ ,/ates4  7#e7 ,! 
#bjbd ,national ,money ,laund]+ ,risk   
,assessm5t by ! ,u4,s4 ,dep>tm5t ( !    
,treasury highlight$ t drug traffick]s  
are turn+ to pr(essional money laund]]s 
to laund] _! ill-gott5 proce$s4 ,9      
p>ticul>1 drug traffick]s use ,*9ese    
,money ,laund]+ ,organizations          
7,c,m,l,os71 :i* employ ,,ivts1 among   
o!r means1 to move value across bord]s  
)\t ne$+ to use ! ,u4,s4 f9ancial sy/em4
 ,:ile ,c,m,l,os provide money laund]+  
s]vices = ,transnational ,crim9al       
,organizations1 _! prim>y objective is  
to acquire & subsequ5tly sell ,unit$    
,/ates ,doll>s 7& o!r =eign curr5cies7  
us+ ,,ivts s*emes to assi/ ,*9ese       
nationals seek+ to evade ! ,*9ese       
gov]nm5t's curr5cy controls4 ,c,m,l,os  
op]at+ 9 ! ,unit$ ,/ates increas+ly ne$ 
access to significant am\nts ( ,,usd to 
satisfy ! dem& = ,,ivts s]vices by      
c>tels1 ,*9ese nationals1 & o!r cu/om]s 

( _! s]vices4  7#f7 ,to obta9 doll>s1   
,c,m,l,os "w ) ,s\? ,am]ican drug c>tels
 & also anyone :o ne$s _! und]gr\nd     
cross-bord] money transf] s]vices4  7#g7
 ,c,m,l,os are j "o example ( !         
organizations t w\ld b5efit f ! increas$
 dem& creat$ by any attempt to limit    
licit movem5t ( remittances across      
bord]s4  #c4 ,excise taxes & fees  7a7  
,9 g5]al ,not)/&+ any o!r provision (   
law4 x is n p]missible = ! ,f$]al       
,gov]nm5t to require a money transmitt+ 
bus9ess to pay an excise tax or fee     
unless ! ,secret>y ( ! ,treasury has    
c]tifi$ to ,congress1 includ+ !         
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate t su* excise tax or fee--  7#a7 w
 n increase ! pot5tial = money laund]+  
or o!r f9ancial crime activities2 &     
7#b7 w n impose an undue burd5 on any   
money transmitt+ bus9ess4  7b7 ,money   
transmitt+ bus9ess def9$ ,9 ?is section1
 ! t]m money transmitt+ bus9ess means a 

lic5s$ s5d] ( money or any o!r p]son :o 
engages z a bus9ess 9 ! transmission (  
curr5cy1 funds1 or value t sub/itutes = 
curr5cy1 includ+ any p]son :o engages z 
a bus9ess 9 an in=mal money transf]     
sy/em or any network ( p :o engage z a  
bus9ess 9 facilitat+ ! transf] ( money  
dome/ically or int]nationally outside ( 
! conv5tional f9ancial in/itutions      
sy/em4