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Bills · 2019-2020 Regular Session

AB 350

Died at session end Official bill text Atom feed

Relating to: money laundering and providing a penalty.

Crime and criminals — Felony Financial institution Legislature — Criminal penalties joint review committee on

  1. Introduced, stopped here
  2. Passes Assembly, not reached
  3. Passes Senate, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Under current law, there is no state criminal prohibition for actions that

constitute money laundering. Under this bill, it is a crime to engage in, supervise,

or facilitate a transaction with illegally obtained property or items of value; to make

property or items of value available to another with the intent to perpetuate illegal

activity; or to engage in a transaction that is designed to conceal or disguise the

nature, location, source, ownership, or control of the resources or to avoid a financial

transaction reporting requirement under federal law. The penalty level depends on

the monetary value involved in the money laundering scheme and ranges from a

Class A misdemeanor for transactions of $2,500 or under to a Class F felony for

transactions over $100,000. Under the bill, a financial institution that has complied

with all federal money laundering reporting requirements is not criminally liable.

Because this bill creates a new crime or revises a penalty for an existing crime,

the Joint Review Committee on Criminal Penalties may be requested to prepare a

report.

Sponsors

Introduced by: Ballweg (R) , Born (R) , Brandtjen (R) , Duchow (R) , Gundrum (R) , Hutton (R) , Jagler (R) , James (R) , Katsma (R) , Knodl (R) , Kuglitsch (R) , Kulp (R) , Loudenbeck (R) , Mursau (R) , Ohnstad (D) , Ott (R) , Plumer (R) , Quinn (R) , Sanfelippo (R) , Skowronski (R) , Steffen (R) , Tusler (R) , Wichgers (R)

6 cosponsors

Feyen (R) , Fitzgerald (R) , Jacque (R) , Marklein (R) , Nass (R) , Olsen (R)

Votes

Assembly: Report passage recommended by Committee on Criminal Justice and Public Safety, Ayes 13, Noes 0

Passed 13–0 Mar 26, 2020 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Full history

  1. Jul 31, 2019 · Assembly

    Introduced by Representatives Hutton, Ballweg, Brandtjen, Born, Duchow, Gundrum, Jagler, James, Katsma, Knodl, Kuglitsch, Kulp, Loudenbeck, Mursau, Ohnstad, Ott, Plumer, Quinn, Sanfelippo, Skowronski, Steffen, Tusler and Wichgers; cosponsored by Senators Fitzgerald, Feyen, Jacque, Marklein, Nass and Olsen

  2. Jul 31, 2019 · Assembly

    Read first time and referred to Committee on Criminal Justice and Public Safety

  3. Sep 18, 2019 · Assembly

    Public hearing held

  4. Oct 17, 2019 · Assembly

    Executive action taken

  5. Mar 26, 2020 · Assembly

    Report passage recommended by Committee on Criminal Justice and Public Safety, Ayes 13, Noes 0

  6. Mar 26, 2020 · Assembly

    Referred to committee on Rules

  7. Apr 1, 2020 · Assembly

    Failed to pass pursuant to Senate Joint Resolution 1