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Bill

HB 670

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

2025 Regular Session Introduced by Beryl Amedée

Louisiana would tax money remittances to foreign countries, generating state revenue while potentially increasing costs for residents sending funds abroad.

Read by title, under the rules, referred to the Committee on Commerce.
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Bill Summary · HB 670

Legislative bill overview

HB 670 proposes to impose fees on remittances—money transfers sent from Louisiana to foreign countries—and dedicates the revenue collected from these fees to specific purposes. The bill was recently introduced in the Louisiana House and referred to the Commerce Committee for review.

Why is this important

Remittances represent a significant financial flow, particularly affecting immigrant communities and families with international ties. The fee structure could impact lower-income individuals who rely on remittance services to support relatives abroad, while also generating state revenue that could be allocated to state programs or priorities.

Potential points of contention

  • Regressive impact: Remittance fees disproportionately burden lower-income workers and immigrant populations who send money to family members in other countries
  • Competitive disadvantage: Fees could drive Louisiana residents to use out-of-state or unregulated transfer services, potentially reducing legitimate economic activity in the state
  • Federal jurisdiction questions: Remittance regulation involves interstate commerce and may face legal challenges regarding state authority to tax financial transfers
  • Revenue dedication unclear: The bill mentions dedicating proceeds but the specific purposes and amounts are not detailed in current information

Compiled from official sources — confirm details with the bill’s official record.

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