Under current law, a person can be charged with Grand Larceny (as opposed to Petit Larceny) for theft – not from a person- of money or goods valued at $500.00 or more.
As of July 1, 2020, that threshold will increase to $1,000.00.
The new law increases the threshold for other similar charges as well – such as Bad Checks, False Statements to Obtain Credit, etc.
Grand Larceny is punishable by up to a year in jail, or 20 years in prison, as well as a fine of up to $2,500.00.
See the history and bill text here.
