COMMERCE: Assesses fees on remittances of money to foreign countries and dedicates proceeds of the fees

HB 670 proposes to implement new fees on money transmitted from Louisiana to locations outside the United States. Individuals sending less than $500 would pay a $5 fee, while those sending $500 or more would pay $5 plus an additional 5% on the amount exceeding $500. These fees would be collected by licensed money transmitters and remitted quarterly. The collected funds would be deposited into a newly established "Human Trafficking Prevention and Victim Services Fund," to be used exclusively for human trafficking prevention initiatives and victim services.