By Keel H.B. No. 2435 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the offense of money laundering. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Section 34.01, Penal Code, is amended by amending 1-5 Subdivision (4) and adding Subdivision (5) to read as follows: 1-6 (4) "Proceeds" means funds acquired or derived 1-7 directly or indirectly from, produced through, or realized through 1-8 an act, or funds that have been fraudulently structured. 1-9 (5) "Fraudulently structure" means to knowingly act 1-10 alone or in conjunction with another person to conduct one or more 1-11 transactions in currency or to create falsified records of 1-12 transactions in currency in any amount, on one or more days, in any 1-13 manner, for the purpose of evading the reporting requirements under 1-14 Article 351, Revised Statutes, or Title 31, United States Code, 1-15 Section 5313, 5316, or 5325, or any regulation prescribed under any 1-16 such section. 1-17 SECTION 2. Section 34.02, Penal Code, is amended by adding 1-18 Subsection (f) to read as follows: 1-19 (f) For purposes of this section, when proceeds of criminal 1-20 activity are related to one scheme or continuing course of conduct, 1-21 whether from the same or several sources, the conduct may be 1-22 considered as one offense and the amounts of the proceeds may be 1-23 aggregated in determining the grade of the offense. 1-24 SECTION 3. If any section, sentence, clause, or part of this 2-1 Act shall, for any reason, be held invalid, such invalidity shall 2-2 not affect the remaining portions of the Act, and it is hereby 2-3 declared to be the intention of this legislature to have passed 2-4 each section, sentence, clause, or part irrespective of the fact 2-5 that any other section, sentence, or part may be declared invalid. 2-6 SECTION 4. This Act takes effect on September 1, 1997. 2-7 SECTION 5. The importance of this legislation and the 2-8 crowded condition of the calendars in both houses create an 2-9 emergency and an imperative public necessity that the 2-10 constitutional rule requiring bills to be read on three several 2-11 days in each house be suspended, and this rule is hereby suspended.