By:  Shapiro                                          S.B. No. 1834

         Line and page numbers may not match official copy.

         Bill not drafted by TLC or Senate E&E.

                                A BILL TO BE ENTITLED

                                       AN ACT

 1-1     relating to the offense of money laundering.

 1-2           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-3           SECTION 1.  Section 34.01, Penal Code, is amended to read as

 1-4     follows:

 1-5                 (4)  "Proceeds" means funds acquired or derived

 1-6     directly or indirectly from, produced through, or realized through

 1-7     an act, including funds whose aggregate nature have been altered or

 1-8     concealed by criminal activity.

 1-9           SECTION 2.  Section 34.02, Penal Code, is amended by adding

1-10     subsection (f) to read as follows:

1-11           (f)  For purposes of this section, when proceeds, whether

1-12     from the same or similar sources, are obtained pursuant to one

1-13     scheme or a continuing course of conduct, the conduct may be

1-14     considered as one offense and the amounts aggregated in determining

1-15     the grade of the offense.

1-16           SECTION 3.  SEVERABILITY.  If any section, sentence, clause,

1-17     or part of this Act shall, for any reason, be held invalid, such

1-18     invalidity shall not affect the remaining portions of the Act, and

1-19     it is hereby declared to be the intention of this legislature to

1-20     have passed each section, sentence, clause, or part irrespective of

1-21     the fact that any other section, sentence, or part may be declared

 2-1     invalid.

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

 2-3     September 1, 1997.

 2-4           SECTION 5.  The importance of this legislation and the

 2-5     crowded condition of the calendars in both houses create an

 2-6     emergency and an imperative public necessity that the

 2-7     constitutional rule requiring bills to be read on three several

 2-8     days in each house be suspended, and this rule is hereby suspended,

 2-9     and it is so enacted.