CS/CS/HB 885 - Summary

• Removes exemptions for flea market transactions and auction businesses from secondhand dealer regulations, requiring all such dealers to register and comply with recordkeeping requirements.

• Prohibits secondary metals recyclers from conducting cash transactions exceeding $1,000 for regulated metals property and all cash transactions for restricted regulated metals property; requires payment by check or electronic transfer instead.

• Establishes registration requirements for secondary metals recyclers at fixed business locations, with fingerprint processing and background checks; restricts purchases to business hours (6 a.m. to 9 p.m.).

• Creates restrictions on purchasing certain "restricted regulated metals property" (including utility infrastructure, railroad equipment, catalytic converters, and similar items) requiring proof of seller ownership or authorization; mandates electronic record transmission to law enforcement within 24 hours.

• Increases criminal penalties for secondary metals recycling violations to third-degree felonies, with enhanced second-degree felony penalties for third and subsequent violations; makes unauthorized removal of copper from electrical substations a first-degree felony; preempts local government regulation of the industry to the state.