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H.B. 295





Chief Sponsor: Ryan D. Wilcox

Senate Sponsor: Daniel R. Liljenquist

             7      LONG TITLE
             8      General Description:
             9          This bill modifies the Money Laundering and Currency Transaction Reporting Act in
             10      the Criminal Code to include a reference to federal law.
             11      Highlighted Provisions:
             12          This bill:
             13          .    amends the offense of money laundering to avoid state transaction reporting
             14      requirements so the offense includes the laundering of money to avoid federal
             15      transaction reporting requirements.
             16      Monies Appropriated in this Bill:
             17          None
             18      Other Special Clauses:
             19          None
             20      Utah Code Sections Affected:
             21      AMENDS:
             22          76-10-1903, as last amended by Laws of Utah 1996, Chapter 17
             24      Be it enacted by the Legislature of the state of Utah:
             25          Section 1. Section 76-10-1903 is amended to read:
             26           76-10-1903. Money laundering.
             27          (1) A person commits the offense of money laundering who:

             28          (a) transports, receives, or acquires the property which is in fact proceeds of the
             29      specified unlawful activity, knowing that the property involved represents the proceeds of some
             30      form of unlawful activity;
             31          (b) makes proceeds of unlawful activity available to another by transaction [or],
             32      transportation, or other means, knowing that [it is] the proceeds are intended to be used for the
             33      purpose of continuing or furthering the commission of specified unlawful activity;
             34          (c) conducts a transaction knowing the property involved in the transaction represents
             35      the proceeds of some form of unlawful activity with the intent:
             36          (i) to promote the unlawful activity;
             37          (ii) to conceal or disguise the nature, location, source, ownership, or control of the
             38      property; or
             39          (iii) to avoid a transaction reporting requirement under this chapter or under federal
             40      law; or
             41          (d) knowingly accepts or receives property which is represented to be proceeds of
             42      unlawful activity.
             43          (2) Under Subsection (1)(d), knowledge that the property represents the proceeds of
             44      unlawful activity may be established by proof that a law enforcement officer or [person] an
             45      individual acting at the request of a law enforcement officer made [such] the representations
             46      and the person's subsequent statements or actions indicate that the person believed those
             47      representations to be true.

Legislative Review Note
    as of 1-15-09 11:14 AM

Office of Legislative Research and General Counsel

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