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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 672 Introduced in House (IH)]

<DOC>

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.
                                 <all>
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