Honorable John Whitmire, Chair, Senate Committee on Criminal Justice
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB207 by Kolkhorst (Relating to the offense of money laundering.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Penal Code as it relates to the offense of money laundering. Under the provisions of the bill, digital currency would be added to the definition of funds. Money laundering is punishable as a felony with the specific punishment level depending on the value of the funds derived from the commission of a criminal activity.
The Office of Court Administration and the Texas Department of Criminal Justice indicate the modifications outlined in the bill's provisions will not result in a significant fiscal impact. This analysis assumes the provisions of the bill addressing felony sanctions would not result in a significant impact on the demands for state correctional resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 304 Comptroller of Public Accounts, 696 Department of Criminal Justice