This bill aims to regulate money transmission by prohibiting individuals who participate in certain public assistance programs from sending money to foreign countries using licensed money transmitters. The bill defines "public programs" to include various assistance programs such as the Minnesota family investment program, Supplemental Nutrition Assistance Program, general assistance, housing support, medical assistance, MinnesotaCare, and child care assistance. If an individual violates this prohibition, they will lose eligibility for all public programs and must be disenrolled.

Additionally, the bill requires money transmitters to report information on individuals who send money to foreign countries. Specifically, it mandates that licensed money transmitters submit biannual reports to the commissioners of children, youth, and families, and human services, identifying individuals who have used their services for international remittances. The respective commissioners are then tasked with determining if these individuals are enrolled in any public assistance programs and, if so, terminating their eligibility in accordance with existing laws and regulations.

Statutes affected:
Introduction: 142A.03, 256.01