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.