§ 34.02. MONEY LAUNDERING. (a) A person commits an offense if the person knowingly
(1) acquires or maintains an interest in, receives, conceals, possesses, transfers, or transports the proceeds of criminal activity
(2) conducts, supervises, or facilitates a transaction involving the proceeds of criminal activity; or
(3) invests, expends, or receives, or offers to invest, expend, or receive, the proceeds of criminal activity or funds that the person believes are the proceeds of criminal activity.
The money used was not from any criminal activity.
The only way there would be "criminal activity" is if there was a felony violation of law. The only point where that felony could occur would be if a Texas corporation directly donated funds to a Texas politician. At that point, if those funds were spent they would be "proceeds of criminal activity" under the Texas money laundering statute.
With the conspiracy charges dismissed there is no possible way that the money laundering charges can stand, since there is no longer any felony to turn the political donations into "proceeds of criminal activity".
Earle is hosed!