Bill Text: NY A05642 | 2015-2016 | General Assembly | Amended
Bill Title: Establishes certain offenses relating to structuring and money laundering.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2016-02-08 - print number 5642a [A05642 Detail]
Download: New_York-2015-A05642-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 5642--A 2015-2016 Regular Sessions IN ASSEMBLY March 3, 2015 ___________ Introduced by M. of A. QUART -- Multi-Sponsored by -- M. of A. SIMON -- read once and referred to the Committee on Codes -- recommitted to the Committee on Codes in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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: 1 Section 1. Section 470.00 of the penal law is amended by adding three 2 new subdivisions 11, 12 and 13 to read as follows: 3 11. "Structures" for purposes of sections 470.30 and 470.31 of this 4 article, a person structures a transaction when, with the intent to 5 evade any reporting requirement under the New York state banking law or 6 31 U.S.C. §§ 5311 through 5326, or any regulation prescribed thereunder, 7 he or she conducts or attempts to conduct one or more related trans- 8 actions in currency, in any amount, with one or more financial insti- 9 tutions, on one or more days. Structuring includes, but is not limited 10 to, the breaking down of a single sum of currency exceeding ten thousand 11 dollars into smaller sums, including sums at or below ten thousand 12 dollars, or the conduct of a transaction, or series of currency trans- 13 actions, including transactions at or below ten thousand dollars. The 14 transaction or transactions need not exceed the ten thousand dollar 15 reporting threshold at any single financial institution or on any single 16 day in order to constitute structuring. 17 12. "Monetary transaction" means a deposit, withdrawal, transfer 18 between accounts, exchange of currency, loan, extension of credit, 19 purchase or sale of any stock, bond, certificate of deposit, or other 20 monetary instrument, use of a safe deposit box, or any other payment, 21 transfer, or delivery by, through, or to a financial institution, by 22 whatever means effected, except that "monetary transaction" shall not EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01867-04-6
