INDIANAPOLIS — A bill that will regulate the transaction of catalytic converters in Indiana was signed into law Monday by Gov. Eric Holcomb.
Senate Bill 293 defines the converters as a "major component part" of a vehicle, which makes it so that only licensed salvage recyclers can buy or sell them, according to a news release from the Office of the Indiana Secretary of State.
It also requires salvage recyclers to keep the same records for converters as valuable metal dealers, places a $25 per day cap on cash payouts for detached converters, and mandates that businesses that buy or sell converters be licensed with the Secretary of State’s Auto Dealer Services Division.
It comes after Indiana saw a rise in thefts of the devices.
The metal inside of the converter is valuable and had nearly tripled around May last year.
A local mechanic told WRTV at the time they sold for $20 to a couple of hundred dollars at scrap yards, depending on scrap prices.
The cost of replacement and labor can cost between $1,000 to $3,000, according to Secretary of State Holli Sullivan.
"Every day Hoosiers’ vehicles across our state are targeted by thieves looking to make a quick buck by cutting out catalytic converters," Sullivan said in a statement.
"The metal component can be stolen in a matter of minutes but can set back unsuspecting car owners thousands of dollars for repair and replacement. Through our Auto Dealer Services Division, we are committed to slowing this trend and protecting Hoosiers’ hard-earned money."
According to the National Insurance Crime Bureau, there were just over 100 converter thefts per month on average in 2018. In 2020, there was an average of just over 1,200 a month with a steady climb throughout the year.
Insurance companies suggest you have your car’s VIN number engraved on your catalytic converter to help track it if it’s stolen.
Police suggest trying to park your vehicle in well-lit areas away from trees and bushes and park it in a garage if you can.
-
Colts' Philip Rivers gets emotional: 'There is doubt, and it's real'
Philip Rivers nearly led the Indianapolis Colts to victory at age 44. Rivers ended a nearly five-year retirement to start Sunday against the Seattle Seahawks.
Walk it Out America transforms health through movement and nutrition
Walk It Out America may sound like an average fitness group, but the Indianapolis-based wellness program goes far beyond walking laps around a track.
Local nonprofit helps bring holiday joy to grieving kids
Brooke’s Place supports children, teens, and young adults in central Indiana as they navigate the loss of a loved one — a journey that can be especially difficult during the holidays.
Hundreds in Hendricks County left without power during freezing temperatures
Downed power lines near U.S. 36 knocked out electricity in Avon neighborhoods, forcing some families to leave their homes to stay warm.
