H.B. No. 4180 proposes the introduction of a new tax on certain money transmissions from Texas to foreign countries, specifically those facilitated by money transmission licensees. The bill establishes Chapter 164 in the Tax Code, which outlines the definitions, imposition, amount, and collection of this tax. The tax is set at 25 percent of the amount transmitted and must be added to the price charged to the sender. Money transmission licensees are required to collect this tax and remit it to the comptroller by the 25th of each month, along with a report detailing the total amount transmitted and any additional information necessary for tax determination.

The bill also mandates that money transmission licensees maintain complete records of the transactions subject to this tax. The proceeds from the tax collection will be deposited into the general revenue fund. This legislation is set to take effect on September 1, 2025.

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