REPORT TITLE:
Money laundering


DESCRIPTION:
Creates a class C felony offense for persons engaged in money
laundering amounts less than $10,000 but greater than $8,000.
(HB997 HD1)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        997
HOUSE OF REPRESENTATIVES                H.B. NO.           H.D. 1
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO MONEY LAUNDERING. 



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Section 708A-3, Hawaii Revised Statutes, is
 
 2 amended by amending subsections (4) and (5) to read as follows:
 
 3      "(4)  This section shall not apply to any person who commits
 
 4 any act described in this section unless:
 
 5      (a)  The person believes the value or aggregate value of the
 
 6           property transported, transmitted, transferred,
 
 7           received, or acquired is [$10,000] $8,000 or more; or
 
 8      (b)  The value or the aggregate value of the property
 
 9           transported, transmitted, transferred, received, or
 
10           acquired is [$10,000] $8,000 or more.
 
11      (5)  A person who violates subsection (1) [is guilty of a
 
12 class B felony and may be fined not more than $25,000 or twice
 
13 the value of the property involved, whichever is greater, or
 
14 both.]:
 
15      (a)  Is guilty of a class C felony where the value or
 
16           aggregate value of the property transported,
 
17           transmitted, transferred, received, or acquired is less
 
18           than $10,000, and may be fined not more than $16,000 or
 
19           twice the value of the property involved, whichever is
 
20           greater; or
 

 
Page 2                                                     997
                                     H.B. NO.           H.D. 1
                                                        
                                                        

 
 1      (b)  Is guilty of a class B felony where the value or
 
 2           aggregate value of the property transported,
 
 3           transmitted, transferred, received, or acquired is
 
 4           $10,000 or more, and may be fined not more than $25,000
 
 5           or twice the value of the property involved, whichever
 
 6           is greater."
 
 7      SECTION 2.  Statutory material to be repealed is bracketed.
 
 8 New statutory material is underscored.
 
 9      SECTION 3.  This Act shall take effect upon its approval.