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HOUSE BILL NO. 429

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H0429........................................................by MR. SPEAKER
                Requested by: Department of Law Enforcement
MONEY LAUNDERING - Amends existing law to include any felony and any felony
equivalents from other jurisdictions with the category of crimes to which
money laundering and illegal investment practices may apply.

01/12    House intro - 1st rdg - to printing
01/12    Rpt prt - to Jud

Bill Text

H0429

                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fourth Legislature                 Second Regular Session - 1998
                                                                        

                             IN THE HOUSE OF REPRESENTATIVES

                                    HOUSE BILL NO. 429

                                      BY MR. SPEAKER
                       Requested by: Department of Law Enforcement

 1                                        AN ACT
 2    RELATING TO MONEY LAUNDERING; AMENDING SECTION 18-8201, IDAHO CODE, TO  EXPAND
 3        THE  STATUTE TO INCLUDE FELONIES UNDER IDAHO LAW AND FELONIES IN ANY OTHER
 4        JURISDICTION EQUIVALENT TO IDAHO FELONIES.

 5    Be It Enacted by the Legislature of the State of Idaho:

 6        SECTION 1.  That Section 18-8201, Idaho Code, be, and the same  is  hereby
 7    amended to read as follows:

 8        18-8201.  MONEY  LAUNDERING  AND ILLEGAL INVESTMENT -- PENALTY -- RESTITU-
 9    TION. (1) It is unlawful for any person to knowingly  or  intentionally  give,
10    sell,  transfer, trade, invest, conceal, transport, or make available anything
11    of value that the person knows is intended to be used to commit  or  fur-
12    ther  a  pattern  of  racketeering  activity as defined in section 18-7803(d),
13    Idaho Code, or a violation of the provisions of chapter 27,  title  37,  Idaho
14    Code     any felony under the laws of Idaho or which are equivalent
15    acts chargeable or indictable as equivalent crimes under the laws of any other
16    jurisdiction .
17        (2)  It is unlawful for any person to knowingly or  intentionally  direct,
18    plan, organize, initiate, finance, manage, supervise, or facilitate the trans-
19    portation  or  transfer  of  proceeds  known by that person to be derived from
20     a pattern of racketeering activity as  defined  in  section  18-7803(d),
21    Idaho  Code,  or  a violation of the provisions of chapter 27, title 37, Idaho
22    Code   any felony under the laws of Idaho or which  are  equivalent
23    acts chargeable or indictable as equivalent crimes under the laws of any other
24    jurisdiction .
25        (3)  It is unlawful for any person to knowingly or intentionally conduct a
26    financial  transaction  involving  proceeds known by that person to be derived
27    from    a  pattern  of  racketeering  activity  as  defined  in   section
28    18-7803(d),  Idaho Code, or a violation of the provisions of chapter 27, title
29    37, Idaho Code   any felony under the laws of Idaho  or  which  are
30    equivalent  acts  chargeable or indictable as equivalent crimes under the laws
31    of any other jurisdiction ,  if the transaction is designed in whole  or
32    in  part  to  conceal  or disguise the nature, location, source, ownership, or
33    control of the proceeds, or to avoid a transaction reporting requirement under
34    state or federal law.
35        (4)  A person who violates the provisions of this section is guilty  of  a
36    felony  and upon conviction may be fined not more than two hundred fifty thou-
37    sand dollars ($250,000) or twice the value of the  property  involved  in  the
38    transaction, whichever is greater, or be imprisoned for not more than ten (10)
39    years, or be both so fined and imprisoned.
40        (5)  Upon  a  conviction of a violation under the provisions of this chap-
41    ter, the court may order restitution for all costs and expenses of prosecution
42    and investigation, pursuant to the terms and conditions set forth  in  section
43    37-2732(k), Idaho Code.

Statement of Purpose / Fiscal Impact

    STATEMENT OF PURPOSE 
    RS07307
    
    
    The purpose of this bill is to amend Idaho Code Section 18-8201. Money laundering and illegal 
    investment to broaden the scope of the statute to cover financial transactions involving proceeds 
    from any felony offense.
    
    Currently, money laundering cannot be charged unless an individual conducts certain financial 
    transactions with proceeds from a drug violation, or proceeds from racketeering activities. 
    Broadening the statute would permit money-laundering charges against financial transactions 
    involving proceeds from car theft rings, burglary, computer crimes or any other felony activity 
    that hasn't risen to the level of RICO.
    
                               FISCAL IMPACT
    
    No appreciable fiscal impact to state or local government is anticipated. This bill would not 
    create a new pool of offenders, with associated costs of supervision or confinement, as the 
    charge of money laundering generally accompanies other criminal charges.
    
    CONTACT
    Name: Ann Thompson, Special Assistant
    Agency: Department of Law Enforcement
    Phone: 884-7000
    Statement of Purpose/Fiscal Impact
    
    H 429