Bill Title: Creates the Precious Metal Purchasing Act. Provides that a person who is in the business of purchasing precious metal shall obtain a proof of ownership, create a record of the sale, and verify the identity of the seller. Provides that a person who is in the business of purchasing precious metal shall not pay for the precious metal in cash and shall record the method of payment. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties.

Spectrum: Moderate Partisan Bill (Republican 4-1)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3341 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Amended	2013-01-03	HTML/Text	Link	View
Amended	2013-01-02	HTML/Text	Link	View
Amended	2012-11-28	HTML/Text	Link	View
Engrossed	2012-03-28	HTML/Text	Link	View
Amended	2012-02-29	HTML/Text	Link	View
Introduced	2012-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB3341

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3341 currently on file.

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