The "Preventing Auto Recycling Theft Act" (PART Act) seeks to deter catalytic converter theft by implementing new identification requirements and strengthening regulations around their sale and possession. It mandates that the National Highway Traffic Safety Administration (NHTSA) revise existing motor vehicle theft prevention standards to include catalytic converters, requiring them to be marked with identifying numbers. These markings, which can include a unique part identification number linked to a law enforcement-accessible database, will apply to new vehicles. The Act also establishes a grant program administered by the Secretary of Transportation to fund the die or pin stamping of VINs or unique part identification numbers onto catalytic converters of existing vehicles. Eligible entities for these grants include law enforcement agencies, automobile dealers, repair shops, and vehicle fleet owners, with priority given to high-theft areas. The stamping must be conspicuous, in a typed font, and covered with high-visibility, high-heat theft deterrence paint. To disrupt the market for stolen converters, the bill amends federal law to require businesses dealing in precious metal car parts to retain detailed records of sellers, including identification and vehicle information, for at least two years. It explicitly prohibits the sale or purchase of catalytic converters with removed or tampered markings. Furthermore, all purchases and sales of catalytic converters must use traceable forms of payment , such as checks or wire transfers, making cash or cryptocurrency transactions unlawful. Finally, the legislation introduces new federal criminal penalties for the theft of catalytic converters, imposing fines and imprisonment of up to five years. It also creates a new offense for trafficking in stolen catalytic converters and expands the definition of a "chop shop" to include facilities involved in extracting precious metals from unlawfully obtained vehicle parts. These measures aim to enhance enforcement and prosecution of catalytic converter-related crimes.