By Keel H.B. No. 120 76R2012 GWK-F 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 that have been: 1-7 (A) acquired or derived directly or indirectly 1-8 from, produced through, or realized through an act; or 1-9 (B) fraudulently structured. 1-10 (5) "Fraudulently structure" means to knowingly act 1-11 alone or in conjunction with another to conduct a transaction in 1-12 currency or create a falsified record of a transaction in currency 1-13 to evade a reporting requirement under Chapter 271, Finance Code, 1-14 31 U.S.C. Sections 5313, 5316, or 5325, or any regulation or rule 1-15 adopted under Chapter 271 or Sections 5313, 5316, or 5325. 1-16 SECTION 2. Section 34.02, Penal Code, is amended by adding 1-17 Subsection (f) to read as follows: 1-18 (f) For purposes of this section, when proceeds of criminal 1-19 activity are related to one scheme or continuing course of conduct, 1-20 whether from the same or several sources, the conduct may be 1-21 considered as one offense and the amounts of the proceeds may be 1-22 aggregated in determining the grade of the offense. 1-23 SECTION 3. This Act takes effect on September 1, 1999. 1-24 SECTION 4. The importance of this legislation and the 2-1 crowded condition of the calendars in both houses create an 2-2 emergency and an imperative public necessity that the 2-3 constitutional rule requiring bills to be read on three several 2-4 days in each house be suspended, and this rule is hereby suspended.