Bill > S00554

This bill establishes comprehensive electronic recordkeeping requirements for second-hand dealers and pawnbrokers in New York State, mandating that these businesses create and maintain detailed digital records for each transaction involving second-hand goods, precious metals, used electronics, and pawned items. Dealers must create electronic records in English that include extensive transaction details such as date, time, location, names of individuals involved, and comprehensive identifying information about both the seller and buyer, including personal details like name, address, phone number, identification information, physical description, and digital photographs. These electronic records must be retained for a minimum of six years and will be accessible to law enforcement, state officials, and other authorized personnel. The bill requires dealers to maintain specific electronic equipment like computers with internet connections, electronic signature pads, and digital cameras to comply with the recordkeeping requirements. Violations of these requirements can result in criminal penalties including fines of $25 to $500, potential imprisonment up to 15 days, and civil penalties of $100 per violation, with the attorney general authorized to seek injunctions against non-compliant businesses. The law will take effect 90 days after becoming law, with immediate authorization for developing necessary implementation rules and regulations.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S554