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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | December 17, 2012 02:10 PM |
|---|---|
| From: | Senator Richard A Kasunic |
| To: | All Senate members |
| Subject: | Precious Metal Sale Regulation Act Amendments |
| In the near future, I plan to re-introduce SB 1556, which updates the Precious Metal Sale Regulation Act. Given the significant increase in the price of precious metals, theft of these items has increased exponentially. Previous co-sponsors included: FONTANA, SCHWANK, SOLOBAY, and TARTAGLIONE. The Precious Metal Sale Regulation Act was enacted in 1984 and has not been amended since. I believe it is necessary to make some minor changes that would assist law enforcement with the recovery of stolen items that may end up with a registered precious metal dealer. The legislation would: 1. Require a seller of precious metal to present a photo identification, which would be included with the record of sale and sent to the District Attorney. Currently under the Act, a dealer is only required to obtain identification verifying the name and address of the seller. 2. Require dealers to retain purchased precious metals in their original state for ten (10) working days. Currently under the Act, a dealer can resell or alter the purchase after five (5) working days. 3. Increased penalties and license ineligibility, for both licensed and unlicensed dealers, found in violation of the law. If you have any additional questions please contact my office at 717-787-7175. |
Introduced as SB375