House Bill No. 375, introduced by Representative McMahen, aims to enhance penalties and clarify evidence admissibility related to financial crimes, specifically illegal transmission of monetary funds and bank fraud. The bill amends existing laws to impose a prison sentence of one to ten years and a fine of up to $100,000 for individuals convicted of these offenses on a second or subsequent occasion. Additionally, it mandates that convicted individuals make full restitution to victims in accordance with the Code of Criminal Procedure Article 883.2, while removing provisions for periodic payment plans for indigent offenders.

Furthermore, the bill introduces new definitions and evidence rules under the Code of Evidence. It allows the prosecution to present evidence of a perpetrator's intent to deceive or defraud in cases of bank fraud or monetary instrument abuse, including prior instances of cashing or attempting to cash counterfeit checks. The definition of "financial institution" is also updated to specify that it refers to federally insured depository institutions. Overall, the bill seeks to strengthen the legal framework surrounding financial crimes in Louisiana.

Statutes affected:
HB375 Original: 14:8(B), 14:1(B)
HB375 Engrossed: 14:8(B), 14:1(B)
HB375 Reengrossed: 14:8(B), 14:1(B)