New Copper Theft Prevention Act UNDATED (wnmu) - Congressman Bart Stupak has introduced new legislation. The Copper Theft Prevention Act would require metal dealers to document copper transactions and would also ban cash transactions of more than $500 for scrap copper. Metal theft has been rising since 2006 due to the rush of global demand for scrap metal. In addition, the price of copper has gone from 83 cents per pound in 2000, to over $4.00 a pound in 2008. Police around the country have seen copper taken from utility substation transformers, utility poles, railroad signaling wire, and foreclosed homes.
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