My LCI (Labor Commerce & Industry) subcommittee is assigned a bill dealing with Pawn Brokers. I have some concerns with this bill:1-increases limit of 2,000 to 10,000
This increase will be automatically adjusted to inflation, so we won't need to revisit the limit in future years. I support this increase yet I don't see a need for a limit at all. Why does government need to tell a pawnbroker how much he can loan? Last time I checked it is the shop's money and they are taking the risk.
2-gives pawnbrokers ability to loan on titled items
Currently, a pawn shop can loan money on any item unless it is a titled item. This bill would allow the shop to loan money on titled items as well. I would think it would be fair to allow the pawning on anything the shop can impound whether it is titled or not. I support this portion of the bill.
3-requires finger printing & back ground checks
Big bro will get a background check on owners and all employees. Someone that has been convicted of a felon is not allowed to work in a pawn shop. An employer would not be allowed to give someone a second chance.
This bill gives you another example the safety squad mentality in the legislature. Protecting you from yourself. Now, don't you feel better?
