PRECIOUS METAL PURCHASING ACT Senate SponsorsSen. Kirk W. Dillard House Sponsors(Rep. Patricia R. Bellock, Norine Hammond, Michelle Mussman and Pam Roth) 1/8/2013SenateSession Sine Die New ActCreates the Precious Metal Purchasing Act. Provides that a person who is in the business of purchasing precious metal shall obtain a proof of ownership, create a record of the sale, and verify the identity of the seller. Provides that a person who is in the business of purchasing precious metal shall not pay for the precious metal in cash and shall record the method of payment. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties.Senate Committee Amendment No. 1 Authorizes inspection of records by local police departments. Requires reports to law enforcement on a daily basis. Exempts persons licensed under the Pawnbroker Regulation Act. 2/7/2012SenateFiled with Secretary by Sen. Kirk W. Dillard 2/7/2012SenateFirst Reading 2/7/2012SenateReferred to Assignments 2/17/2012SenateAssigned to Commerce 2/29/2012SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Kirk W. Dillard 2/29/2012SenateSenate Committee Amendment No. 1 Referred to Assignments 3/1/2012SenatePostponed - Commerce 3/6/2012SenateSenate Committee Amendment No. 1 Assignments Refers to Commerce 3/7/2012SenateSenate Committee Amendment No. 1 Adopted 3/8/2012SenateDo Pass as Amended Commerce; 006-000-000 3/8/2012SenatePlaced on Calendar Order of 2nd Reading March 21, 2012 3/27/2012SenateSecond Reading 3/27/2012SenatePlaced on Calendar Order of 3rd Reading March 28, 2012 3/28/2012SenateThird Reading - Passed; 056-000-000 3/28/2012HouseArrived in House 3/28/2012HouseChief House Sponsor Rep. Patricia R. Bellock 3/28/2012HousePlaced on Calendar Order of First Reading 3/28/2012HouseFirst Reading 3/28/2012HouseReferred to Rules Committee 4/26/2012HouseAdded Alternate Co-Sponsor Rep. Norine Hammond 11/26/2012HouseAssigned to Judiciary I - Civil Law Committee 11/26/2012HouseFinal Action Deadline Extended-9(b) January 8, 2013 11/28/2012HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Patricia R. Bellock 11/28/2012HouseHouse Committee Amendment No. 1 Referred to Rules Committee 12/3/2012HouseHouse Committee Amendment No. 1 Rules Refers to Judiciary I - Civil Law Committee 12/20/2012HouseAdded Alternate Co-Sponsor Rep. Michelle Mussman 1/2/2013HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. Patricia R. Bellock 1/2/2013HouseHouse Committee Amendment No. 2 Referred to Rules Committee 1/3/2013HouseHouse Committee Amendment No. 3 Filed with Clerk by Rep. Patricia R. Bellock 1/3/2013HouseHouse Committee Amendment No. 3 Referred to Rules Committee 1/6/2013HouseAdded Alternate Co-Sponsor Rep. Pam Roth 1/6/2013HouseHouse Committee Amendment No. 2 Rules Refers to Judiciary I - Civil Law Committee 1/6/2013HouseHouse Committee Amendment No. 3 Rules Refers to Judiciary I - Civil Law Committee 1/8/2013SenateSession Sine Die