By Keel                                               H.B. No. 2435

         Substitute the following for H.B. No. 2435:

         By Nixon                                          C.S.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     Subsection (4) and adding Subsection (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, Vernon's Texas Civil Statutes, or Title 31 United

1-15     States Code, Sections 5313, 5316, or 5325, or any regulation

1-16     prescribed under any 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.  SEVERABILITY.  If any section, sentence, clause,

 2-1     or part of this Act shall, for any reason, be held invalid, such

 2-2     invalidity shall not affect the remaining portions of the Act, and

 2-3     it is hereby declared to be the intention of this legislature to

 2-4     have passed each section, sentence, clause, or part irrespective of

 2-5     the fact that any other section, sentence, or part may be declared

 2-6     invalid.

 2-7           SECTION 4.  EFFECTIVE DATE.  This Act takes effect on

 2-8     September 1, 1997.

 2-9           SECTION 5.  EMERGENCY.  The importance of this legislation

2-10     and the crowded condition of the calendars in both houses create an

2-11     emergency and an imperative public necessity that the

2-12     constitutional rule requiring bills to be read on three several

2-13     days in each house be suspended, and this rule is hereby suspended,

2-14     and it is so enacted.