Assembly Bill A3604

2017-2018 Legislative Session

Establishes certain offenses relating to structuring and money laundering

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A3604 (ACTIVE) - Details

See Senate Version of this Bill:
S49
Current Committee:
Assembly Codes
Law Section:
Penal Law
Laws Affected:
Amd §§470.00, 470.03, 470.25 & 460.10, add §§470.30 - 470.33, Pen L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7529
2015-2016: A5642, S109
2019-2020: A857, S598
2021-2022: A91

2017-A3604 (ACTIVE) - Summary

Establishes certain offenses relating to structuring and money laundering.

2017-A3604 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3604
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 30, 2017
                                ___________
 
 Introduced  by M. of A. QUART -- Multi-Sponsored by -- M. of A. SIMON --
   read once and referred to the Committee on Codes
 
 AN ACT to amend the penal  law,  in  relation  to  establishing  certain
   offenses relating to structuring and money laundering
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 470.00 of the penal law is amended by adding  three
 new subdivisions 11, 12 and 13 to read as follows:
   11.  "STRUCTURES"  FOR  PURPOSES OF SECTIONS 470.30 AND 470.31 OF THIS
 ARTICLE, A PERSON STRUCTURES A TRANSACTION  WHEN,  WITH  THE  INTENT  TO
 EVADE  ANY REPORTING REQUIREMENT UNDER THE NEW YORK STATE BANKING LAW OR
 31 U.S.C. §§ 5311 THROUGH 5326, OR ANY REGULATION PRESCRIBED THEREUNDER,
 HE OR SHE CONDUCTS OR ATTEMPTS TO CONDUCT ONE  OR  MORE  RELATED  TRANS-
 ACTIONS  IN  CURRENCY,  IN ANY AMOUNT, WITH ONE OR MORE FINANCIAL INSTI-
 TUTIONS, ON ONE OR MORE DAYS. STRUCTURING INCLUDES, BUT IS  NOT  LIMITED
 TO, THE BREAKING DOWN OF A SINGLE SUM OF CURRENCY EXCEEDING TEN THOUSAND
 DOLLARS  INTO  SMALLER  SUMS,  INCLUDING  SUMS  AT OR BELOW TEN THOUSAND
 DOLLARS, OR THE CONDUCT OF A TRANSACTION, OR SERIES OF  CURRENCY  TRANS-
 ACTIONS,  INCLUDING  TRANSACTIONS  AT OR BELOW TEN THOUSAND DOLLARS. THE
 TRANSACTION OR TRANSACTIONS NEED NOT  EXCEED  THE  TEN  THOUSAND  DOLLAR
 REPORTING THRESHOLD AT ANY SINGLE FINANCIAL INSTITUTION OR ON ANY SINGLE
 DAY IN ORDER TO CONSTITUTE STRUCTURING.
   12.  "MONETARY  TRANSACTION"  MEANS  A  DEPOSIT,  WITHDRAWAL, TRANSFER
 BETWEEN ACCOUNTS, EXCHANGE  OF  CURRENCY,  LOAN,  EXTENSION  OF  CREDIT,
 PURCHASE  OR  SALE  OF ANY STOCK, BOND, CERTIFICATE OF DEPOSIT, OR OTHER
 MONETARY INSTRUMENT, USE OF A SAFE DEPOSIT BOX, OR  ANY  OTHER  PAYMENT,
 TRANSFER,  OR  DELIVERY  BY,  THROUGH, OR TO A FINANCIAL INSTITUTION, BY
 WHATEVER MEANS EFFECTED, EXCEPT THAT "MONETARY  TRANSACTION"  SHALL  NOT
 INCLUDE  ANY  TRANSACTION  INVOLVING BONA FIDE PAYMENTS TO ATTORNEYS FOR
 LEGAL SERVICES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05317-01-7

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