senate Bill S598

2019-2020 Legislative Session

Establishes certain offenses relating to structuring and money laundering

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Current Bill Status - On Floor Calendar


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 29, 2020 advanced to third reading
Jan 28, 2020 2nd report cal.
Jan 27, 2020 1st report cal.279
Jan 08, 2020 referred to codes
returned to senate
died in assembly
Jun 06, 2019 referred to codes
delivered to assembly
passed senate
ordered to third reading cal.1209
committee discharged and committed to rules
Jan 09, 2019 referred to codes

Votes

view votes

Jan 27, 2020 - Codes committee Vote

S598
8
3
committee
8
Aye
3
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Codes committee vote details

Codes Committee Vote: Jan 27, 2020

aye wr (1)

Jun 6, 2019 - Rules committee Vote

S598
14
4
committee
14
Aye
4
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Rules committee vote details

S598 (ACTIVE) - Details

See Assembly Version of this Bill:
A857
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: S109, A5642
2017-2018: S49, A3604

S598 (ACTIVE) - Summary

Establishes certain offenses relating to structuring and money laundering.

S598 (ACTIVE) - Sponsor Memo

S598 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   598

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2019
                               ___________

Introduced  by  Sen. HOYLMAN -- read twice and ordered printed, and when
  printed to be committed 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

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