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 WR Alec Pierce talks about ‘incredible experience’ at Indy 500
Indianapolis Colts wide receiver Alec Pierce has experienced what it’s like to ride in an IndyCar two-seater.
Thorntown residents asked to evacuate following anhydrous ammonia spill
Residents of Thorntown were asked to evacuate Tuesday following an anhydrous ammonia spill. The Boone County Sheriff's Office said the spill happened in the northwest part of rural Thorntown.
IU’s Curt Cignetti reacts to driving the pace car at the Indy 500
And just this past Sunday, Cignetti served as the honorary pace car driver for the 110th Running of the Indianapolis 500.
1997 Huntington County murder solved using advanced DNA testing
According to police, on Dec. 21st, 1997, 25-year-old Angela Saco was found dead on Huntington County Reservoir property off County Road 100 East, north of County Road 100 South in Huntington County.
