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Senate committee tightens reporting, cash limits for secondary metals recyclers and catalytic-converter sales
Summary
A committee substitute for Senate Bill 40 was approved with amendments that remove a sunset on a $100 cash cap for secondary metals transactions, reinstate prohibitions on cash purchases for specified materials and tighten licensing and reporting rules.
The Senate Judiciary Committee on Thursday approved a committee substitute for Senate Bill 40 with amendments that keep a $100 cap on cash payments by secondary metals recyclers, remove the two-year sunset on that cap, and explicitly prohibit cash purchases for several high-theft items, including certain catalytic converters and copper products.
Senator Edge, presenting the measure on behalf of the absent sponsor, said the bill mainly cleans up language from prior legislation and moves the statutory definition of a “used attached catalytic converter” into the code’s definition section.…
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