MS HB626

Expands regulation of scrap metal purchases to include transactions where no consideration is given, requiring all persons acquiring metal property to register as scrap metal dealers and maintain records for at least 2 years

Restricts catalytic converter purchases to only licensed motor vehicle dealers, ASE-certified mechanics/repair facilities, registered salvage businesses, vehicle owners with replacement documentation, or other registered scrap metal dealers

Prohibits cash payments for metal property purchases unless the seller is a registered business entity; payments must be made by check, money order, or electronic funds transfer

Increases penalties for violations: felonies involving $5,000-$25,000 carry 1-10 years imprisonment and up to $15,000 fine; violations exceeding $25,000 carry 3-20 years imprisonment and up to $20,000 fine

Grants Secretary of State authority to conduct examinations, issue cease and desist orders, impose administrative penalties up to $1,000 per offense, and preempts local ordinances governing metal property transactions