; and (C) by adding at the end the following: (C) for purposes of applying the fee required under subsection (g)(1), does not include payments for valuable consideration. . (b) Refundable income tax credit allowed to citizens of the United States for remittance transfer fees (1) In general Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following: 36C. Remittance transfer fees of United States citizens In the case of any individual who is a citizen of the United States, there shall be allowed as a credit against the tax imposed by this subtitle for any taxable year an amount equal to the aggregate amount of remittance transfer fees paid by such individual under section 920(g) of the Electronic Fund Transfer Act ( 15 U.S.C. 1693o–1(g) ) during such taxable year. . (2) Conforming amendments (A) Section 6211(b)(4)(A) of the Internal Revenue Code of 1986 is amended by inserting 36C, after 36B, . (B) Section 1324(b)(2_ of title 31, United States Code, is amended by inserting 36C, after 36B, . (C) The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 36B the following new item: Sec. 36C. Remittance transfer fees of United States citizens. . (3) Effective date The amendments made by this subsection shall apply to taxable years ending after the date of the enactment of this Act. (c) Report regarding amount of remittance transfers to each foreign country The Commissioner of U.S. Customs and Border Protection shall submit an annual report to the Committee on Banking, Housing, and Urban Affairs of the Senate , the Committee on Homeland Security and Governmental Affairs of the Senate , the Committee on Financial Services of the House of Representatives , and the Committee on Homeland Security of the House of Representatives that describes the aggregate amount of remittance transfers made to each foreign country during the year to which