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Mississippi’s BORDER FENCE FUND ACT SB 2255 FILED !

Will YOUR STATE build the BORDER FENCE?

FLORIDA’S LEGISLATIVE SESSION begins March 8.  It is also the deadline for bills to be introduced in Florida’s House and Senate.  The session ends May 6.

I have contacted my State representative Steve Crisafulli and my State senator Mike Haridopolos with a request that they submit a similar bill that replicates the language in Mississippi’s SB 2255, The Border Fence Fund Act.

Copy and paste this post into an email to YOUR state representative and senator.  Tell them you want this legislation introduced and supported in your state.

Mspatriots.com has radio interviews, press releases and information about the bill SB 2255 the Border Fence Fund Act.  (Note: The fee language will be modified to 7%, and adding bank checks and international money orders if possible.  Language that allows the state legislature to appropriate the money will be deleted from this version.)

MISSISSIPPI LEGISLATURE REGULAR SESSION 2011

By: Senator(s) Fillingane To: Judiciary, Division A; Finance

SENATE BILL NO. 2255

1 AN ACT TO REQUIRE ENTITIES THAT TRANSMIT WIRE TRANSFERS TO

2 COLLECT A FEE ON WIRE TRANSFERS TRANSMITTED TO LOCATIONS OUTSIDE

3 THE UNITED STATES; TO REQUIRE THE FEES SO COLLECTED TO BE

4 TRANSMITTED TO THE DEPARTMENT OF REVENUE NOT LATER THAT THE

5 FIFTEENTH DAY OF THE MONTH FOLLOWING THE CLOSE OF EACH CALENDAR

6 QUARTER; TO CREATE A SPECIAL FUND IN THE STATE TREASURY TO BE

7 KNOWN AS THE BORDER FENCE FUND AND TO REQUIRE REVENUE COLLECTED AS

8 A RESULT TO THE WIRE TRANSFER FEE TO BE DEPOSITED TO THE CREDIT OF

9 THE FUND; TO PROVIDE THAT MONEY IN THE FUND SHALL BE USED FOR THE

10 PURPOSE OF ASSISTING IN THE CONSTRUCTION OF A FENCE ALONG THE

11 BORDER BETWEEN THE UNITED STATES AND MEXICO; TO PROVIDE THAT A

12 TAXPAYER SHALL BE ALLOWED AN INCOME TAX CREDIT IN AN AMOUNT EQUAL

13 TO THE WIRE TRANSFER FEES PAID BY THE TAXPAYER; AND FOR RELATED

14 PURPOSES.

15 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

16 SECTION 1. (1) Any entity that transmits wire transfers of

17 money shall collect a fee of Five Dollars ($5.00) for each wire

18 transfer of money transaction that is transmitted to a location

19 outside the United States plus one percent (1%) of the amount of

20 the transaction that exceeds Five Hundred Dollars ($500.00).

21 (2) The fee prescribed by this section shall be remitted

22 quarterly to the Department of Revenue on such forms as the

23 department may prescribe. All forms and remittances shall be

24 filed with the Department of Revenue not later than the fifteenth

25 day of the month following the close of each calendar quarter.

26 (3) All revenue collected from the imposition of the fee

27 shall be deposited to the credit of the Border Fence Fund created

28 in Section 2 of this act.

29 (4) All administrative provisions of the Mississippi Sales

30 Tax Law, including those which fix damages, penalties and interest

31 for nonpayment of taxes and for noncompliance with the provisions

32 of such chapter, and all other duties and requirements imposed

S. B. No. 2255 *SS26/R326.1* R3/5 11/SS26/R326.1 PAGE 1

33 upon taxpayers, shall apply to all persons liable for fees under

34 the provisions of this section, and the Commissioner of Revenue

35 shall exercise all the power and authority and perform all the

36 duties with respect to taxpayers under this chapter as are

37 provided in the Mississippi Sales Tax Law except where there is a

38 conflict, then the provisions of this section shall control.

39 SECTION 2. There is created in the State Treasury a special

40 fund to be known as the Border Fence Fund into which shall be

41 deposited the revenue specified in Section 1 of this act and such

42 other money as the Legislature may provide by appropriation.

43 Money in the fund shall be used for the purpose of assisting in

44 the construction of a fence along the border between the United

45 States and Mexico. Money in the fund shall be expended upon

46 appropriation by the Legislature. Unexpended amounts remaining in

47 the fund at the end of a fiscal year shall not lapse into the

48 General Fund and investment earnings on amounts in the fund shall

49 be deposited to the credit of the fund.

50 SECTION 3. (1) A taxpayer shall be allowed a credit against

51 the income taxes imposed by this chapter an amount equal to the

52 fees paid by the taxpayer pursuant to Section 1 of this act.

53 (2) The credit allowed by this section shall not exceed the

54 taxpayer’s income tax liability and any unused tax credit shall

55 not be allowed to be carried forward to apply to the taxpayer’s

56 succeeding year’s tax liability.

57 SECTION 4. Section 2 of this act shall be codified in

58 Chapter 7, Title 27, Mississippi Code of 1972.

59 SECTION 5. This act shall take effect and be in force from

60 and after July 1, 2011.

S. B. No. 2255 *SS26/R326.1* 11/SS26/R326.1 PAGE 2
ST: Out-of-country wire transfers; impose a fee on, create the Border Fence Fund and deposit revenue into the fund.