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.