Metal Theft Continues to Hit Homebuilders
Even with a drop in recycled metal prices, the theft of copper and other nonferrous metals from building sites across the country continues to plague homebuilders. Current copper prices are more than 50 percent lower than six to eight months ago, when copper fetched as much as 4 dollars a pound. However, in tough economic times, metal theft persists as a major issue for homebuilders.
Many states have already passed laws regulating scrap metal sales or criminalizing scrap metal theft. States also have expanded the scope of these laws from specifically copper to more general nonferrous metals. Metal theft laws are on the books in 33 States.
The most common legislation establishes regulations on scrap metal buyers, requiring them to identify sellers and keep detailed records of purchases. Three bills were introduced this month in Oregon. House Bill 2422, bans the sale or purchase of a catalytic converter unless the seller or purchaser has a permit issued by the Department of Transportation. Two other bills, House Bill 2421 and House Bill 2423, propose stricter penalties for metal thieves and require scrap metal businesses to maintain records of purchase.
Michigan Governor Jennifer M. Granholm signed legislation at the beginning of January. Under the new law, a person who knowingly buys or sells stolen scrap metal will be subject to felony penalties, including imprisonment for up to five years, a fine of up to $5,000, or both.
Federal Solution
The National Copper Theft Prevention Act of 2008, sponsored by Rep. Bart Stupak, D-Mich., failed to pass in the lame duck Congress before the end of 2008, but action will likely be taken on the bill in the new session. If passed, the law would require better recordkeeping by copper recyclers and prohibit cash payments of more than $500. The bill provides for a civil penalty of up to $10,000.
Monitoring
In addition to a legislative solution, local task forces are crucial to limiting copper thefts. Georgia is leading the charge nationally to crack down on metal thefts with the creation of the Active Metal Theft Task Force. One function of the task force is to email theft alerts to a distribution list in order to bring immediate attention to stolen product that may be presented for sale.
“Metal theft continues to be a thriving industry in Atlanta” reports Chris Burke, VP of Government Affairs for the Greater Atlanta Home Builders Association. “The theft task force here has grown from just being the city of Atlanta to include police departments and private industry from around the region.”
For more information on the Georgia task force, visit http://www.stopmetalthefts.com/
[
return to top ]
|
