HB0606 - Tennessee: Business And Commerce, Financial Institutions, Dept. Of, Immigrants

Companion Bill SB1506. Business and Commerce - Requires a person to show proof of U.S. citizenship or residency in this country when requesting money or other funds be transmitted from this country to a location in a foreign country. - Amends TCA Title 45 and Title 47. Fiscal Summary for *HB0606 / SB1506Increase State Revenues - Not Significant Increase State Expenditures - Not Significant Bill Summary for *HB0606 / SB1506 This bill requires any person who seeks to transmit funds from a location within Tennessee to a location in a foreign country to show proof of U.S. citizenship or legal residency. The business that transmits the funds must maintain documentation of the proof of citizenship or residency for two years. This bill does not apply to transfers of funds that are governed by the federal Electronic Fund Transfer Act of 1978,[...]

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