This bill proposes several updates to current statutes regarding foreign wire transfers and the establishment of the Arizona Deportations Fund. It introduces new provisions that require licensed money transmitters (licensees) to charge a fee for initiating foreign wire transfers, specifically $25 for transactions under $500 and $25 plus 5% for transactions of $500 or more. The fees collected will be paid to the Arizona Department of Revenue and deposited into the newly established Deportations Fund, which will be used to provide grants to law enforcement agencies for apprehending and deporting illegal immigrants. The bill also defines "licensee" and "law enforcement agency" and stipulates that the funds are subject to legislative appropriations but exempt from lapsing.

Additionally, the bill allows taxpayers to claim a tax credit for the amount paid in fees for foreign wire transmissions during the taxable year. This credit is intended to offset the financial impact of the new fee structure on individuals engaging in foreign wire transfers. The bill amends existing tax statutes to include this new section, ensuring that the tax credit aligns with the fees imposed under the new provisions. Overall, the bill aims to create a financial mechanism to support law enforcement efforts related to immigration enforcement while providing tax relief to affected taxpayers.

Statutes affected:
Introduced Version: 41-1092.08
Senate Engrossed Version: 43-222, 43-1080, 42-5064, 42-5014, 35-146, 35-147, 6-1253, 6-1252, 35-190, 38-1118, 43-1079.01, 43-1088, 43-1089.04, 43-1167.01, 43-1175, 43-1072.02, 43-1074.02, 43-1075, 43-1076.01, 43-1077, 43-1078, 43-1083, 43-1083.02, 43-1162, 43-1164.03, 43-1183, 43-1073, 43-1082, 43-1085, 43-1086, 43-1089, 43-1089.01, 43-1089.02, 43-1089.03, 43-1164, 43-1165, 43-1181, 43-1074.01, 43-1168, 43-1170, 43-1178, 43-1073.01, 43-1081.01, 43-1083.03, 43-1084, 43-1164.04, 43-1164.05, 43-1184