The bill would amend the Penal Code as it relates to the offense of money laundering. Under the provisions of the bill, the definition of funds would be expanded to include certain stored value cards. Under current statute, money laundering is punishable at various felony levels and increases in severity based on the total dollar amount of money laundered. 

 
A state jail felony is punishable by confinement in a state jail for a term from 180 days to 2 years and, in addition to confinement, an optional fine not to exceed $10,000 or Class A Misdemeanor punishment (mandatory post conviction community supervision). A felony of the third degree is punishable by confinement in prison for a term from 2 to 10 years and, in addition to confinement, an optional fine not to exceed $10,000. A second-degree felony is punishable by confinement in prison for a term from 2 to 20 years and, in addition to confinement, an optional fine not to exceed $10,000. A first-degree felony is punishable by confinement in prison for life or a term from 5 to 99 years and, in addition to confinement, an optional fine not to exceed $10,000.

 
Expanding the definition of funds is expected to result in increased demands upon the correctional resources of counties and or of the state due to longer terms of probation, or longer terms of confinement in county jail, state jail, or prison.  However, in the case of this bill, it is assumed the number of offenders convicted under this statute would not result in a significant impact on the programs and workload of state corrections agencies or on the demand for resources and services of those agencies. It is expected that individuals who would be affected by the provisions of this bill are currently being sentenced for other offenses.