Small Business Deposit Relief Act of 2013

Bill: 113-hr-1184
Sponsor: full_name: Rep. Harris, Andy [R-MD-1]
Introduced: 2013-03-14
Policy area: Finance and Financial Sector
Subjects: Bank accounts, deposits, capital

Banking and financial institutions regulation

Business records

Criminal procedure and sentencing

Currency

Fraud offenses and financial crimes

Government information and archives
Latest action: action_date: 2013-03-14
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2013-03-14
action_desc: Introduced in House
text: <p>Small Business Deposit Relief Act of 2013 - Limits criminal penalties for violations of reporting requirements imposed on financial institutions concerning domestic transactions for the payment, receipt, or transfer of U.S. coins or currency or other monetary instruments where the violation: (1) was not made while also violating another federal law, and (2) was a first offense under such transaction provisions.</p> <p>Limits the amount of property forfeiture and monetary penalties imposed with respect to a monetary instrument transaction where the violation was not made while also violating another federal law.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 1184 IN THE HOUSE OF REPRESENTATIVES March 14, 2013 Mr. Harris introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend title 31, United States Code, to provide for lessened penalties for certain violations of the anti-structuring laws when violations are with respect to certain domestic financial institutions and are not taken in connection with another crime, and for other purposes.

1. Short title This Act may be cited as the Small Business Deposit Relief Act of 2013 . 2. Limitation on penalties for certain structuring not involving another crime Section 5324 of title 31, United States Code, is amended— (1) in subsection (d)— (A) by redesignating paragraph (2) as paragraph (3); and (B) by inserting after paragraph (1) the following: (2) Limitation on criminal penalties for certain non-aggravated cases (A) In general Notwithstanding paragraph (1), but subject to paragraph (3), whoever violates this section shall be fined in accordance with title 18, United States Code, imprisoned for not more than 1 year, or both, where such violation— (i) was of section 5324(a); (ii) was not made while also violating another law of the United States; and (iii) was made with respect to a transaction involving a domestic financial institution described under subparagraphs (A) through (F) of section 5312(a)(2). (B) No imprisonment for first offense Notwithstanding subparagraph (A), a person committing a violation described under that subparagraph shall not be subject to imprisonment for such violation if the person has not previously been convicted of a violation described under such subparagraph. ; and (2) by adding at the end the following: (e) Limitation on property forfeiture and monetary penalties for certain structuring not involving another crime With respect to a violation, the aggregate amount of property forfeited under section 5317(c)(1), property seized and forfeited under section 5317(c)(2), any money penalty imposed under section 5321(a)(4)(A), and any fine imposed under subsection (d) may not exceed 10 percent of the amount of coins and currency (or such other monetary instruments as the Secretary may prescribe) involved in the transaction with respect to which the violation occurred, if the violation— (1) was of section 5324(a); (2) was not made while also violating another law of the United States; and (3) was made with respect to a transaction involving a domestic financial institution described under subparagraphs (A) through (F) of section 5312(a)(2). .