HB35 Summary

• Requires auction business owners to maintain records of all goods sold at auction for more than $100 and make those records available to appropriate law enforcement agencies.

• Records must be accurate copies of the entries made at the time of sale.

• Establishes a civil penalty of up to $1,000 per violation for owners who willfully violate the record-keeping requirement.

• Amends Section 34-4-7 to exempt violations of the new record-keeping requirement from criminal penalties under existing auction law (Class A misdemeanor and Class C felony provisions).

• Takes effect on the first day of the third month following passage and approval by the Governor.