Background:

Statutes of limitation are legislative declarations of the period within which actions may be brought on certain claims, or during which certain crimes may be prosecuted. Once a statute of limitations has expired, there is in place an absolute bar to prosecution. The period of limitation is suspended during any period in which the person charged is out of the state, or is subject to a complaint, information, or indictment related to the offense. Statutes of limitations function to encourage prosecutions based upon reasonably fresh evidence to lessen the possibility of an erroneous conviction.

Statutes of limitation vary according to the crime. In general, simple misdemeanors must be prosecuted within one year, gross misdemeanors must be prosecuted within two years, and felony offenses must be prosecuted within three years of the commission of the crime. However, the limitation period may be varied by statute, and there is no limitation on the time within which a prosecution must commence for the crimes of murder, homicide by abuse, vehicular homicide, or for the crimes of vehicular assault, hit and run injury-accident, or arson if death results.

Violations of the following crimes may not be prosecuted more than six years after their commission:

leading organized crime; and
conspiracy or attempt to use the proceeds of criminal profiteering.

A person is guilty of leading organized crime if he or she intentionally organizes, directs, supervises or finances three or more persons with the intent to engage in criminal profiteering activity. This form of leading organized crime is a class A felony. A person is also guilty of this crime if he or she intentionally incites or induces others to engage in violence or intimidation with the intent to further or promote a pattern of criminal profiteering activity. This form of leading organized crime is a class B felony.

A person is guilty of conspiracy or attempt to use the proceeds of criminal profiteering if he or she knowingly acquired any proceeds derived from a pattern of criminal activity and uses those proceeds to acquire any interest in real property or to establish or operate any enterprise. Use of such proceeds is a class B felony. Conspiracy to use such proceeds is a class C felony.

Violations of the following crimes may not be prosecuted more than three years after their commission:

money laundering;
improperly obtaining financial information;
identity theft; and
theft in the first or second degree.

A person is guilty of money laundering if he or she knowingly conducts a financial transaction with the proceeds of specified unlawful activity. Money laundering is a class C felony.

A person is guilty of improperly obtaining financial information if he or she makes false statements or submits forged documents to obtain or disclose a person's financial information. Improperly obtaining financial information is a class C felony.

A person is guilty of identity theft if he or she knowingly obtains, possesses, uses, or transfers the identity or financial information of another person with the intent to commit, aid, or abet any crime. Identity theft in the first degree is a class B felony. Identity theft in the second degree is a class C felony.

A person is guilty of theft in the first degree when he or she exerts unauthorized control of property or services valued at $1,500 or more. Theft in the first degree is a class B felony.

A person is guilty of theft in the second degree when he or she exerts unauthorized control of property or services worth at least $250 but not more than $1,500. Theft in the second degree is a class C felony.

Summary of Bill:

The statute of limitations is extended from three to six years for the crimes of:

money laundering;
improperly obtaining financial information;
identity theft; and
theft in the first or second degree, when accomplished by color or aid of deception.

The statute of limitations begins to run upon the commission or discovery of the crime, whichever occurs later, for the crimes of:

leading organized crime;
conspiracy or attempt to use the proceeds of criminal profiteering;
money laundering;
identity theft;
improperly obtaining financial information; and
theft in the first or second degree, when accomplished by color or aid of deception.