Illinois General Assembly - Bill Status for SB1856
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 Bill Status of SB1856  100th General Assembly

Short Description:  MONEY LAUNDERING

Senate Sponsors
Sen. Michael Connelly

Last Action
DateChamber Action
  1/13/2015SenateSession Sine Die

Statutes Amended In Order of Appearance
205 ILCS 657/90
720 ILCS 5/29B-1from Ch. 38, par. 29B-1
720 ILCS 5/29B-2 new
720 ILCS 5/29B-3 new
725 ILCS 5/111-4
730 ILCS 5/5-5-3from Ch. 38, par. 1005-5-3

Synopsis As Introduced
Amends the Transmitters of Money Act. Deletes provision that a person who engages in conduct requiring a license under the Act and fails to obtain a license from the Director is guilty of a Class 3 felony. Amends the Criminal Code of 2012. In the statute concerning money laundering, provides that the laundering of property of a value exceeding $1,000,000 is a Class X felony. Creates the offense of engaging in monetary transactions in criminally derived property and the offense of unlawful money transmitting business. Defines offenses and establishes penalties. Amends the Code of Criminal Procedure of 1963. Provides that 2 or more acts or transactions involving money laundering, engaging in monetary transactions in criminally derived property, unlawful money transmitting business, online sale of stolen property, online theft by deception, electronic fencing, or workers' compensation fraud, may be charged as a single offense in a single count of the same indictment, information, or complaint, if the acts or transactions by one or more defendants are in furtherance of a single intention and design or if the property, labor, or services obtained are of the same person or are of several persons having a common interest in the property, labor, or services. Amends the Unified Code of Corrections to make conforming changes.

DateChamber Action
  2/15/2013SenateFiled with Secretary by Sen. Michael Connelly
  2/15/2013SenateFirst Reading
  2/15/2013SenateReferred to Assignments
  2/27/2013SenateAssigned to Criminal Law
  3/7/2013SenateTo Subcommittee on CLEAR Compliance
  3/20/2013SenatePostponed - Subcommittee on CLEAR Compliance
  3/22/2013SenateRule 3-9(a) / Re-referred to Assignments
  1/13/2015SenateSession Sine Die

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