To expand an existing scrap metal dealer regulatory regime that applies to purchases of nonferrous scrap metal so that it also applies to purchases of scrap iron (ferrous metals). The bill would also impose restrictions on the form of payment a dealer could use to purchase "scrapped" catalytic converters, air conditioners and stripped copper wire. Payment in cash would be prohibited, and payments greater than $25 would have to be sent by mail to the seller's address as indicated on valid form of identification. If the scrap metal industry creates a real time database of each purchase, some payment restrictions would be less stringent. The bills would also require dealers to keep specified records of sellers and purchased items, and more.