Honorable Patricia Harless, Chair, House Committee on Environmental Regulation
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1769 by Geren (Relating to the regulation of certain metal dealers; providing a criminal penalty.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Occupations Code to require metal recycling entities to collect and maintain additional information from an individual selling valuable metal material to the entity.
The Consumer Credit Commissioner (CCC) may not register a person as a dealer if the person fails to comply with any requirement of Section 1956.062; and shall require a dealer to report all crafted precious metal to the Internet database not later than the end of the business day in which a transaction occurred. The Commissioner shall designate an Internet database that is designed to collect information from businesses regarding certain transactions and to make that information available to law enforcement agencies to assist the agencies in solving crimes. A dealer would be required to submit a report for each transaction on a form prescribed by the Commissioner which must include specified information.
A crafted precious metals dealer could pay for a purchase of crafted precious metal by check or prepaid debit card. The bill would create a Class B misdemeanor offense if a person violates the provision. A Class B misdemeanor is punishable by a fine of not more than $2,000, confinement in jail for a term not to exceed 180 days, or both.
Local Government Impact
Costs associated with enforcement, prosecution and confinement could likely be absorbed within existing resources. Revenue gain from fines imposed and collected is not anticipated to have a significant fiscal implication.
Source Agencies:
405 Department of Public Safety, 466 Office of Consumer Credit Commissioner