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Overcriminalization

"Overcriminalization" describes the trends in America - and particulary in Congress - to use the criminal law to "solve" every problem, punish every mistake (instead of making proper use of civil penalties), and coerce Americans into conforming their behavior to satisfy social engineering objectives.

HR 5127: A bill to amend Title 31, United States Code, to establish a reporting requirement for any stored value device carried out of, into or through the United States, to establish registration requirements for stored value programs, and for other purposes.

Official Title

A bill to amend Title 31, United States Code, to establish a reporting requirement for any stored value device carried out of, into or through the United States, to establish registration requirements for stored value programs, and for other purposes.

Analysis

This bill would define “stored value” to mean funds or monetary value in a digital electronics format that is stored or can be stored on electronic media so that it is retrievable and electronically transferable. The bill would require operators of stored value programs to register those programs with the Secretary of the Treasury and would bring those programs within the regulatory scheme that governs the importation and exportation of more than $10,000. Any person who knowingly conceals more than $10,000 in funds, including those in a stored value device, on his person or in a container when passing through the borders of the United States would be guilty of a currency smuggling offense. A violation would be punishable by imprisonment for up to 5 years and forfeiture of any property involved in or traceable to the offense.

Legislation Details
SPONSOR

Giffords (D - AZ)

STATUS:

04/22/2010: Referred to House Financial Services Committee
04/22/2010: Introduced in House