HB 350 — An Act amending the act of February 24, 1984 (P.L.92, No.17), referred to as the Precious Metal Sale Regulation Law, further providing for definitions, for license required, for records of transactions, for dealer's retention of precious metal and availability for inspection, for purchases from minors and for penalty.

PRIOR PRINTER'S NO.

276 PRINTER'STHE NO.GENERAL ASSEMBLY OF PENNSYLVANIA HOUSE BILL Session of No.

566350 THE2019 GENERALINTRODUCED ASSEMBLYBY OFRIGBY, PENNSYLVANIAMcNEILL, HOUSENELSON, BILLCOOK, SessionSCHMITT, STRUZZI, GREGORY, ECKER AND JONES, FEBRUARY 1, 2019 REFERRED TO COMMITTEE ON CONSUMER AFFAIRS, FEBRUARY 1, 2019 AN ACT Amending the act of No.February 24, 1984 (P.L.92, No.17), entitled "An act regulating the purchase and sale of precious metals," further providing for definitions, for license required, for records of transactions, for dealer's retention of precious metal and availability for inspection, for purchases from minors and for penalty.

350 2019 INTRODUCED BY RIGBY, NELSON, COOK, SCHMITT, STRUZZI, GREGORY, ECKER, JONES, FARRY, DUNBAR, RADER, HERSHEY, KAUFFMAN, ZIMMERMAN, JAMES, WHEELAND AND KORTZ, FEBRUARY 1, 2019 AS AMENDED ON SECOND CONSIDERATION, HOUSE OF REPRESENTATIVES, FEBRUARY 21, 2019 AN ACT Amending the act of February 24, 1984 (P.L.92, No.17), entitled "An act regulating the purchase and sale of precious metals," further providing for definitions, for license required, for metal and availability for inspection, for purchases fromus minors and for penalty.

Excluded from this definition are WHOLESALE PURCHASERS, <-- financial institutions licensed under Federal or State banking laws, the purchaser of precious metals who purchases from a seller seeking a trade-in or allowance, the manufacturers of jewelry or of other items composed, in whole or in part, of gold, silver or platinum and the purchaser of precious metals for his, her or its own use or ownership and not for resale or [refining] other commercial disposition.

20190HB0350PN0566 - 2 - (3) An expiration date.

20190HB0350PN0276 - 2 - "Silver." Any alloy of the element silver, 900/1000 or more parts per thousand, by weight, of pure silver.

(3) A photograph of the item, if the item purchased has <-- any distinguishing details, including identifying marks, initials, insignias, inscriptions or other unique identifying features.

and 20190HB0350PN0566 - 3 - (iii) of sufficient size and clarity to identify any 20190HB0350PN0276 - 3 - distinguishing details.

20190HB0350PN0566 - 4 - (c) Law enforcement officials to give notice when they 20190HB0350PN0276 - 4 - believe item was stolen.--If a law enforcement official has probable cause to believe an item of precious metal has been stolen, he may give written notice to the dealer in precious metals.

(c) Revocation of license and ineligibility.--Any 20190HB0350PN0566 - 5 - individual, partnership, association, corporation or business 20190HB0350PN0276 - 5 - entity violating any provisions of this act shall, upon conviction, in addition to the penalties set forth in subsections (a) and (b) hereof, suffer immediately revocation of any existing license issued pursuant to the provisions of this act and shall be ineligible to apply for a dealer's license under this act for a period of five years thereafter.

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