CRIM CD-MONEY LAUNDERING Senate SponsorsSen. Miguel del Valle-Barack Obama House Sponsors(Rep. Edward J. Acevedo-Patricia Bailey) 8/12/2003SenatePublic Act . . . . . . . . . 93-0520 720 ILCS 5/16-1from Ch. 38, par. 16-1720 ILCS 5/29B-1from Ch. 38, par. 29B-1 Amends the Criminal Code of 1961. Provides that theft of property in excess of $500,000 is a Class X felony (rather than a Class 1 felony). In the money laundering statute, provides that any property expressly or impliedly represented to be property constituting or derived from proceeds obtained, directly or indirectly, pursuant to a violation of the Criminal Code of 1961, the Illinois Controlled Substances Act, or the Cannabis Control Act is criminally derived property. Provides that laundering criminally derived property in excess of $500,000 is a Class X felony (rather than a Class 1 felony). Effective immediately.Senate Floor Amendment No. 1 Provides that the theft of property exceeding $500,000 in value and the laundering of criminally derived property of a value exceeding $500,000 is a Class 1 non-probationable felony (rather than a Class X felony). In the provisions concerning money laundering, deletes from the new definition of "criminally derived property" "expressly or impliedly". 2/5/2003SenateFiled with Secretary by Sen. Miguel del Valle 2/5/2003SenateFirst Reading 2/5/2003SenateReferred to Rules 2/6/2003SenateAssigned to Judiciary 2/19/2003SenateDo Pass Judiciary; 010-000-000 2/19/2003SenatePlaced on Calendar Order of 2nd Reading February 26, 2003 2/28/2003SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Miguel del Valle 2/28/2003SenateSenate Floor Amendment No. 1 Referred to Rules 3/18/2003SenateSenate Floor Amendment No. 1 Rules Refers to Judiciary 3/19/2003SenateSenate Floor Amendment No. 1 Postponed - Judiciary 3/25/2003SenateSenate Floor Amendment No. 1 Be Approved for Consideration Judiciary; 010-000-000 3/25/2003SenateSecond Reading 3/25/2003SenateSenate Floor Amendment No. 1 Adopted; del Valle 3/25/2003SenatePlaced on Calendar Order of 3rd Reading March 26, 2003 3/26/2003SenateAdded as Chief Co-Sponsor Sen. Barack Obama 3/26/2003SenateThird Reading - Passed; 058-000-000 3/26/2003HouseArrived in House 3/26/2003HousePlaced on Calendar Order of First Reading 3/26/2003HouseChief House Sponsor Rep. Edward J. Acevedo 3/26/2003HouseFirst Reading 3/26/2003HouseReferred to Rules Committee 3/31/2003HouseAssigned to Judiciary II - Criminal Law Committee 4/10/2003HouseDo Pass / Short Debate Judiciary II - Criminal Law Committee; 011-000-000 4/10/2003HousePlaced on Calendar 2nd Reading - Short Debate 4/10/2003HouseAdded Alternate Chief Co-Sponsor Rep. Patricia Bailey 5/1/2003HouseSecond Reading - Short Debate 5/1/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/8/2003HouseThird Reading - Short Debate - Passed 118-000-000 5/8/2003SenatePassed Both Houses 6/6/2003SenateSent to the Governor 8/12/2003SenateFiled Without Signature 8/12/2003SenateEffective Date August 6, 2003; Presented to the Governor on 6-6-03. 8/12/2003SenatePublic Act . . . . . . . . . 93-0520