Texas 2017 - 85th Regular

Texas House Bill HB517 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	85R4157 TSR-F
2	2	By: Longoria H.B. No. 517
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the regulation of crafted precious metal dealers.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Section 1956.051(3), Occupations Code, is
10	10	amended to read as follows:
11	11	(3) "Crafted precious metal" means jewelry,
12	12	silverware, an art object, or another object, made wholly or partly
13	13	from precious metal, that is selling at less than 105 percent of the
14	14	scrap value of the object, other than a coin, a bar, or a
15	15	commemorative medallion[, or scrap or a broken item selling at five
16	16	percent or more than the scrap value of the item].
17	17	SECTION 2. Section 1956.0613, Occupations Code, is amended
18	18	to read as follows:
19	19	Sec. 1956.0613. INVESTIGATION BY COMMISSIONER; INSPECTION
20	20	OF RECORDS. (a) The commissioner shall:
21	21	(1) monitor the operations of a dealer to ensure
22	22	compliance with this subchapter [chapter]; and
23	23	(2) receive and investigate complaints against a
24	24	dealer or a person acting as a dealer.
25	25	(b) If the commissioner receives a written complaint
26	26	regarding a violation of this subchapter by a person, or has
27	27	reasonable cause to believe that a person is violating this
28	28	subchapter, the commissioner or the commissioner's authorized
29	29	representative may inspect any record, account, paper, book, or
30	30	correspondence of the person, regardless of whether the person is
31	31	registered as a dealer.
32	32	(c) The commissioner or the commissioner's authorized
33	33	representative may take statements under oath in an investigation
34	34	of a matter under this subchapter.
35	35	SECTION 3. Section 1956.063, Occupations Code, is amended
36	36	by amending Subsections (c) and (d) and adding Subsection (c-1) to
37	37	read as follows:
38	38	(c) For each transaction regulated by this subchapter, the
39	39	dealer shall submit a report on a preprinted and prenumbered form
40	40	prescribed by the commissioner or in the manner described by
41	41	Subsection (c-1). The form must include the following:
42	42	(1) the date of the transaction;
43	43	(2) a description of the crafted precious metal
44	44	purchased by the dealer;
45	45	(3) the name and physical address of the dealer; and
46	46	(4) the name, physical description, and physical
47	47	address of the seller or transferor.
48	48	(c-1) A dealer may submit a list required by Section
49	49	1956.062(b) in satisfaction of the reporting requirement of this
50	50	section if the list contains the information described by
51	51	Subsection (c).
52	52	(d) The dealer shall retain a copy of the report until the
53	53	later of:
54	54	(1) the second anniversary of the date the dealer
55	55	sells or otherwise disposes of the crafted precious metal purchased
56	56	by the dealer; or
57	57	(2) the third anniversary of the date the report is
58	58	filed.
59	59	SECTION 4. Sections 1956.064(b) and (c), Occupations Code,
60	60	are amended to read as follows:
61	61	(b) A peace officer who has reasonable suspicion to believe
62	62	that an item of crafted precious metal in the possession of a
63	63	dealer, or in the possession of another person on behalf of the
64	64	dealer, is stolen may place the item on hold for a period not to
65	65	exceed 60 days by issuing to the dealer or other person a written
66	66	notice that:
67	67	(1) specifically identifies the item alleged to be
68	68	stolen and subject to the hold; and
69	69	(2) informs the dealer or other person of the
70	70	requirements of Subsection (c).
71	71	(c) On receiving the notice, the dealer or other person may
72	72	not melt, deface, alter, or dispose of the identified crafted
73	73	precious metal until the hold is released in writing by a peace
74	74	officer of this state or a court order.
75	75	SECTION 5. Section 14.201, Finance Code, is amended to read
76	76	as follows:
77	77	Sec. 14.201. INVESTIGATION AND ENFORCEMENT AUTHORITY.
78	78	Investigative and enforcement authority under this subchapter
79	79	applies only to:
80	80	(1) Section 339.001;
81	81	(2) [,] this chapter;
82	82	(3) [,] Subtitles B and C, [of] Title 4;
83	83	(4) [,] Chapter 393 with respect to a credit access
84	84	business;
85	85	(5) [, and] Chapter 394; and
86	86	(6) Subchapter B, Chapter 1956, Occupations Code.
87	87	SECTION 6. Section 1956.063(d), Occupations Code, as
88	88	amended by this Act, applies to a report filed under Section
89	89	1956.063, Occupations Code, on or after the effective date of this
90	90	Act.
91	91	SECTION 7. This Act takes effect September 1, 2017.