Precious metals dealers; required to prepare daily reports. (HB1528)

Introduced By

Del. Dickie Bell (R-Staunton)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Precious metals dealers; daily reports.  Requires every dealer to prepare a daily report containing certain information and to file such report by noon of the following day with the chief of police or other law-enforcement officer of the county, city or town where his business is conducted designated by the local attorney for the Commonwealth to receive it. The bill allows a dealer to compile and maintain the daily report in an electronic format and, if so maintained, to file the required daily report electronically with the appropriate law-enforcement officer through use of a disk, electronic transmission, or any other electronic means of reporting approved by the law-enforcement officer. Any local governing body may, by ordinance, require a dealer to maintain and file a daily report electronically through the use of a disk, electronic transmission, or any other electronic means of reporting approved by the law-enforcement officer. The bill allows a dealer to charge a service fee per transaction for making the daily electronic reports to the appropriate law-enforcement officers and for creating and maintaining the electronic records. Such fee shall not exceed five percent of the amount paid by the dealer for an item or $3, whichever is less. The bill requires the Superintendent of State Police to adopt regulations for the uniform reporting of information required by this section. The bill also contains technical amendments. Read the Bill »


Bill Has Failed


12/22/2010Prefiled and ordered printed; offered 01/12/11 11100156D
12/22/2010Referred to Committee on General Laws
01/17/2011Impact statement from DPB (HB1528)
02/08/2011Left in General Laws


Linda LaPrade writes:

This bill has no reason for existing. Why would the government need to track who owns what precious metals and when they were bought? It is an invasion of privacy. It will create headaches for the dealers. It seems to me that Del. Bell wants to be "big brother". There is NO reason for this bill unless Del. Bell plans to confiscate to "precious metals" reported. If this is his reason, he should resign. If there is another, I certainly can't think of it.

Bill writes:

I'd like Del. Bell to publicly announce why he introduced this bill and for whom. It certainly didn't just come out of the blue. And it's really scary that the reports would go to the police. Shame on Del. Bell.