HB23 Summary

• Requires auction business owners to maintain accurate records of all goods sold at auction for more than $100

• Mandates auction owners make transaction records available to appropriate law enforcement agencies upon request

• Establishes a civil penalty of up to $1,000 per violation for owners who willfully fail to maintain required records

• Exempts violations of the new record-keeping requirement (Section 34-4-55) from Class A misdemeanor and Class C felony penalties under existing auction law (Section 34-4-7)

• Takes effect on the first day of the third month following passage and gubernatorial approval