HB 753 Summary

• Reduces record retention requirement for secondary metals recyclers from 5 years to 2 years for purchase transaction information.

• Restricts cash payments for regulated metals purchases to $1,000 or less; requires check or electronic payment for amounts over $1,000 or for any restricted regulated metals property purchases.

• Establishes a new category of "restricted regulated metals property" (including manhole covers, utility equipment, catalytic converters, beer kegs, shopping carts, and similar items) requiring proof of seller ownership or authorization before purchase.

• Limits liability of secondary metals recyclers for civil claims and creates legal inference that compliant recyclers did not knowingly purchase stolen property.

• Preempts local government regulation of secondary metals recycling to state authority, except for ordinances enacted before March 1, 2011.