By Keel H.B. No. 2435 75R8749 T 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 to read as 1-5 follows: 1-6 (4) "Proceeds" means funds acquired or derived directly or 1-7 indirectly from, produced through, or realized through an act, 1-8 including funds whose aggregate nature have been altered or 1-9 concealed by criminal activity. 1-10 SECTION 2. Section 34.02, Penal Code, is amended by adding 1-11 subsection (f) to read as follows: 1-12 (f) For purposes of this section, when proceeds, whether 1-13 from the same or similar sources, are obtained pursuant to one 1-14 scheme or a continuing course of conduct, the conduct may be 1-15 considered as one offense and the amounts aggregated in determining 1-16 the grade of the offense. 1-17 SECTION 3. SEVERABILITY. If any section, sentence, clause, 1-18 or part of this Act shall, for any reason, be held invalid, such 1-19 invalidity shall not affect the remaining portions of the Act, and 1-20 it is hereby declared to be the intention of this legislature to 1-21 have passed each section, sentence, clause, or part irrespective of 1-22 the fact that any other section, sentence, or part may be declared 1-23 invalid. 1-24 SECTION 4. EFFECTIVE DATE. This Act takes effect on 2-1 September 1, 1997. 2-2 SECTION 5. EMERGENCY. The importance of this legislation 2-3 and the crowded condition of the calendars in both houses create an 2-4 emergency and an imperative public necessity that the 2-5 constitutional rule requiring bills to be read on three several 2-6 days in each house be suspended, and this rule is hereby suspended, 2-7 and it is so enacted.