LA HB670

Imposes a $5 fee on international money transmissions under $500, and $5 plus 5% of the amount exceeding $500 for transmissions of $500 or more

Licensed money transmitters and their agents must collect these fees and remit them quarterly to the Office of Financial Institutions by the 15th of the month following each quarter

Creates the Human Trafficking Prevention and Victim Services Fund in the state treasury to receive all collected fees

Fund monies must be allocated exclusively for human trafficking prevention initiatives and services for trafficking victims

Commissioner of Financial Institutions may suspend licenses of transmitters who fail to collect and remit the required fees