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]

Text: Latest bill text (Amended) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Kirk Dillard [R]	Primary	Sponsored Bills	SD-024	FollowTheMoney	Ballotpedia	VoteSmart
Representative Patricia Bellock [R]	Primary	Sponsored Bills	HD-047	FollowTheMoney	Ballotpedia	VoteSmart
Representative Norine Hammond [R]	Cosponsor	Sponsored Bills	HD-094	FollowTheMoney	Ballotpedia	VoteSmart
Representative Michelle Mussman [D]	Cosponsor	Sponsored Bills	HD-056	FollowTheMoney	Ballotpedia	VoteSmart
Representative Pam Roth [R]	Cosponsor	Sponsored Bills	HD-075	FollowTheMoney	Ballotpedia	VoteSmart

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