Bill Text: TX SB1702 | 2011-2012 | 82nd Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the establishment of a task force to enhance the prosecution and tracking of money laundering in this state.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2011-05-25 - Returned to Local & Consent Calendars Comm. [SB1702 Detail]

Download: Texas-2011-SB1702-Comm_Sub.html
 
 
  By: Williams S.B. No. 1702
 
  (Gallego)
 
   
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the establishment of a task force to enhance the
  prosecution and tracking of money laundering in this state.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 402, Government Code, is
  amended by adding Section 402.038 to read as follows:
         Sec. 402.038.  MONEY LAUNDERING TASK FORCE. (a)  In this
  section:
               (1)  "Money laundering" includes conduct prohibited
  under Section 34.02, Penal Code.
               (2)  "Task force" means the money laundering task
  force.
         (b)  The office of the attorney general shall establish the
  task force to form a strategic partnership between state, federal,
  and local law enforcement agencies to better enable law enforcement
  and state agencies to take a proactive stance towards tracking and
  prosecuting money laundering and the perpetrators of money
  laundering statewide.
         (c)  The task force consists of the following persons or
  their appointees:
               (1)  the attorney general;
               (2)  the public safety director of the Department of
  Public Safety;
               (3)  the banking commissioner;
               (4)  the credit union commissioner;
               (5)  the securities commissioner;
               (6)  the savings and mortgage lending commissioner; and
               (7)  the comptroller.
         (d)  The task force may request assistance from the Federal
  Bureau of Investigation, United States Secret Service, United
  States Department of Justice, United States Department of Homeland
  Security, Internal Revenue Service, United States Department of the
  Treasury, United States Postal Service, and any other federal
  agency the task force determines to be appropriate.
         (e)  The task force shall focus its efforts in:
               (1)  sharing information and resources; and
               (2)  successfully enforcing administrative and
  criminal actions against perpetrators of money laundering.
         (f)  The agencies of the persons listed in Subsection (c) may
  share confidential information or information to which access is
  otherwise restricted by law with one or more of the other agencies
  of the persons listed in Subsection (c) for investigative purposes
  described by Subsection (b). Except as provided by this
  subsection, confidential information that is shared under this
  subsection remains confidential and legal restrictions on access to
  the information apply.
         (g)  The task force shall submit to the governor, lieutenant
  governor, and speaker of the house of representatives an annual
  report that:
               (1)  describes the progress of each agency of the
  persons listed in Subsection (c) in accomplishing the purposes
  described by Subsection (b); and
               (2)  includes recommendations for strengthening state
  and local efforts to prevent money laundering.
         (h)  The office of the attorney general shall oversee the
  administration of the task force.  The office of the attorney
  general shall provide the necessary facilities to assist the task
  force in performing its duties.  Each agency of the persons listed
  in Subsection (c) shall provide the necessary staff to assist the
  task force in performing its duties.
         (i)  The agencies of the persons listed in Subsection (c) may
  solicit and accept gifts, grants, and donations of money, services,
  or property on behalf of the state for disbursement to any state
  agency or local law enforcement agency to aid the task force in the
  investigation and prosecution of money laundering in this state.
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2011.
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