HB390 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Crimes and offenses, crime of money laundering provided for and penalties
Description
<p class="bill_description"> Existing state law does not provide for the
crime of money laundering, which is the act of
conducting a financial transaction which involves
proceeds derived from an unlawful activity</p><p class="bill_description">
This bill would create the crime of money
laundering and would provide penalties</p><p class="bill_description">
Amendment 621 of the Constitution of Alabama
of 1901, now appearing as Section 111.05 of the
Official Recompilation of the Constitution of
Alabama of 1901, as amended, prohibits a general
law whose purpose or effect would be to require a
new or increased expenditure of local funds from
becoming effective with regard to a local
governmental entity without enactment by a 2/3 vote
unless: it comes within one of a number of
specified exceptions; it is approved by the
affected entity; or the Legislature appropriates
funds, or provides a local source of revenue, to
the entity for the purpose</p><p class="bill_description">
The purpose or effect of this bill would be
to require a new or increased expenditure of local
funds within the meaning of the amendment. However,
the bill does not require approval of a local
governmental entity or enactment by a 2/3 vote to
become effective because it comes within one of the
specified exceptions contained in the amendment</p><p class="bill_entitled_an_act"> To provide for the crime of money laundering
involving certain acts or omissions pursuant to a financial
transaction that involves the use of proceeds from an unlawful
activity; to provide penalties; and in connection therewith
would have as its purpose or effect the requirement of a new
or increased expenditure of local funds within the meaning of
Amendment 621 of the Constitution of Alabama of 1901, now
appearing as Section 111.05 of the Official Recompilation of
the Constitution of Alabama of 1901, as amended.
</p>
Subjects
Crimes and Offenses
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 23, 2012 | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB390 Alabama 2012 Session - Introduced |