This bill proposes several updates to current statutes regarding foreign wire transfers and the establishment of the Arizona Deportations Fund. It introduces a new requirement for licensed money transmitters (referred to as "licensees") to charge a fee for initiating foreign wire transfers, with specific amounts set based on the transaction value: $25 for transfers under $500 and $25 plus 5% for transfers 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 administered by the State Treasurer. The fund will be used to provide grants to law enforcement agencies for apprehending and deporting illegal immigrants, with a grant amount of $2,500 for each deported individual.

Additionally, the bill allows taxpayers to claim a credit against their income tax for the fees paid on foreign wire transfers during the taxable year. It also clarifies definitions related to licensees and law enforcement agencies, and it removes certain requirements regarding the distribution of grant funds. Overall, the bill aims to create a financial mechanism to support law enforcement efforts related to immigration enforcement while providing tax relief to individuals who engage in foreign wire transfers.

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