Skip to main content
Related Topic: Financial Services

Connecticut

H.B. 5564
This bill requires a gift card with a balance under $10 to be redeemed for cash at the card holder's request. The bill applies to any card, tangible object, or electronic record that (1) shows the issuer's agreement to provide goods or services of a certain value displayed on or retrieved from the card, object, or record; (2) includes a microprocessor chip, magnetic strip, or other way to store information; and (3) is prefunded with a value that decreases with each use. It does not apply to a general use prepaid card.

Michigan

H.B. 5590
Prohibits expiration within 10 years for gift cards and gift certificates.

H.B. 2793
This bill prohibits a pawnbroker from purchasing, pawning, receiving, selling or exchanging a gift card with a balance of more than $100 or with more than $300 in the aggregate from any individual within a 30 day period.

New Hampshire

S.B. 403
Passed Senate 3/3/16
This bill prohibits the sale of gift certificates with expiration dates if the face value of the certificate is $250 or less. The bill also excludes prepaid telecommunications and technology cards from the definition of gift certificate under the Consumer Protection Act.

New York

A.B. 1775
Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards.

A.B. 4872
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

A.B. 5030
Authorizes the commissioner of motor vehicles to establish gift cards for distinctive and special number license plates.

A.B. 7467
S.B. 3106
Directs the commissioner of environmental conservation to create gift cards for hunting and fishing licenses.

A.B. 7610
Relates to fees on gift cards and gift certificates issued by merchants for goods and services.

A.B. 8550
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

S.B. 4771
Relates to fees on gift cards and gift certificates.

S.B. 6898
Relates to gift certificates and gift cards; prohibits expiration dates and dormancy service fees in certain instances; and requires retailers to redeem card balances of $10 or less for cash at consumer's request.

S.B. 7327
Prohibits expiration dates on gift certificates.

Pennsylvania

H.B. 385
Includes selling or issuing a gift card or gift certificate as those terms are defined that contains an expiration date, a period of time after which the gift card or gift certificate expires or any type of postsale charge or fee, including, but not limited to, a service charge, dormancy fee or activation fee in the definition of an unfair trade practice.

S.B. 150
Provides that selling or issuing a gift card or gift certificate that contains an expiration date or any type of post-sale charge or fee including, but not limited to, a service charge, dormancy fee, account maintenance fee, cash-out fee, replacement card fee or activation or reactivation fee is a prohibited unfair method of competition under the Unfair Trade Practices and Consumer Protection Law of 1976, as amended.

Tennessee

H.B. 156
S.B. 923
Requires that sales of gift cards be made person-to-person and requires nonrenewal and suspension of eligibility for reissuance of a violator's business tax license.

Virginia

H.B. 11
Prohibits a merchant issuing a gift certificate issued in the commonwealth from (i) charging a maintenance fee or inactivity fee on a gift certificate or (ii) issuing a gift certificate that automatically expires, diminishes in value, or otherwise becomes unredeemable. Gift certificates are required to include a telephone number or Internet address where the holder of the gift certificate may obtain information regarding its available balance. The measure applies to gift certificates issued on or after Jan. 1, 2017.

West Virginia

H.B. 4736
Adds §47-26-2a, relating to the pawn of gift cards; defines gift card; and limits the purchase pawn, receipt, sale or exchange of a gift card with a pawnbroker.

Wisconsin

A.B. 761
Failed to pass pursuant to Senate Joint Resolution 1 4/13/16
This bill regulates the sale and redemption of gift certificates, gift cards, and similar items (gift obligations). The bill prohibits the following:  1) failing to honor a valid gift obligation; 2) selling a gift obligation that is subject to an expiration date; 3) reducing the value of a gift obligation except for the sale price of goods or services provided to the bearer; and 4) reducing the value of a gift obligation as a condition of disclosing the value of the gift obligation. Under the bill, the prohibitions numbered 2) and 3) above do not apply to a gift obligation given or sold for less than face value to a nonprofit organization, a person who transfers the gift obligation to another person primarily for the benefit of a nonprofit organization, or to a gift obligation issued for no consideration. Also under the bill, if a person that owns a business intends to transfer ownership of the business or otherwise cease to operate the business, the person may not issue gift obligations that may be redeemed at the business unless the intended transferee agrees to honor gift obligations issued by the person. The provisions of the bill do not apply to certain state−chartered financial institutions to the extent that federal law preempts or prohibits the application of the provisions of the bill to certain federally chartered financial institutions. The Department of Agriculture, Trade and Consumer Protection or a district attorney may enforce the provisions of the bill by bringing an action for a civil penalty of up to $10,000. Also, the bill creates a private right of action in which a person may recover the greater of twice the person’s pecuniary loss or $200 for each violation.

Wyoming

H.B. 95
Signed by governor 3/4/16, Chapter 73
Relates to unclaimed property; removes the scheduled repeal date on provisions related to the abandonment of gift certificates, merchant store value cards and credit memos.

Connecticut

H.B. 6297
Failed Joint Favorable deadline 3/19/15
Prohibits any pawnbroker from purchasing, selling or trading gift certificates, as defined in §3-56a of the general statutes.

H.B. 6691
Failed Joint Favorable deadline 3/17/15
Requires that if a person uses a gift card to make a purchase of goods or services, the person accepting the gift card as payment, if requested by the purchaser, shall provide the purchaser with a cash refund equal to the value of the remaining balance on the gift card after the purchase.

H.B. 6811
Failed Joint Favorable deadline 3/17/15
Concerns cash refunds for gift card balances; allows a gift card holder to obtain a cash refund of the gift card balance if such balance is less than ten dollars after a purchase is made with the card.

New Jersey

A.B. 3480
Substituted 12/18/14
S.B. 2235
Signed by governor 2/5/15, Chapter 
Eliminates consumer data collection requirements for certain gift cards.

New York

A.B. 1775
Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards.

A.B. 4872
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

A.B. 5030
Authorizes the commissioner of motor vehicles to establish gift cards for distinctive and special number license plates.

A.B. 7467
S.B. 3106
Passed Senate 6/15/15
Directs the commissioner of environmental conservation to create gift cards for hunting and fishing licenses.

A.B. 7610
Passed Assembly 6/16/15
Relates to fees on gift cards and gift certificates issued by merchants for goods and services.

A.B. 8550
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

S.B. 4771
Relates to fees on gift cards and gift certificates.

Oregon

H.B. 2543
Provides that unused gift cards become abandoned property. Provides that if an issuer of a gift card does not have an address for the owner of a gift card, the value of the gift card presumed abandoned is subject to custody of this state if purchase, issuance or last transaction by the owner of the gift card occurred in this state.

Pennsylvania

H.B. 385
Includes selling or issuing a gift card or gift certificate as those terms are defined that contains an expiration date, a period of time after which the gift card or gift certificate expires or any type of postsale charge or fee, including, but not limited to, a service charge, dormancy fee or activation fee in the definition of an unfair trade practice.

S.B. 150
Provides that selling or issuing a gift card or gift certificate that contains an expiration date or any type of post-sale charge or fee including, but not limited to, a service charge, dormancy fee, account maintenance fee, cash-out fee, replacement card fee or activation or reactivation fee is a prohibited unfair method of competition under the Unfair Trade Practices and Consumer Protection Law of 1976, as amended.

Puerto Rico

S.B. 371
Signed by governor 3/19/15, Act 31
Adopts a new law in order to regulate the sale and use of gift cards, which will be known as the Law of Gift Cards.

Tennessee

H.B. 156
S.B. 923
Requires that sales of gift cards be made person-to-person and requires nonrenewal and suspension of eligibility for reissuance of a violator's business tax license.

Texas

H.B. 2391
Became law without governor’s signature 6/17/15, Chapter 655
Amends the Business & Commerce Code to provide for a cash refund of the balance of certain stored value cards following an in-person redemption if the remaining balance is less than $2.50.

Washington

H.B. 1551
Passed House 3/10/15
S.B. 5543
Addresses unclaimed property law administration. The bill clarifies that gift certificates presumed abandoned and compliant with the gift certificate laws do not need to be reported as unclaimed property.

Wyoming

H.B. 42
Signed by governor 3/4/15, Chapter 127
Relates to unclaimed property; amends language to include merchant stored value cards; provides definitions; extends the period for abandonment of gift certificates, merchant stored value cards and credit memos; provides an exemption; repeals related provisions.

Connecticut

H.B. 5473
This bill requires a retailer accepting a gift card as payment for goods or services to provide a cash refund when the purchaser requests it and there is less than $1 remaining on the gift card after the purchase. Violators are subject to a fine of $100 for a first offense, $200 for a second offense, and $250 for each subsequent offense.

Hawaii

H.B. 2108
Requires an issuer of a gift card to hold in trust the moneys received in payment for the card.

Iowa

H.F. 2088
Withdrawn 2/25/14
Modifies unclaimed property provisions that apply to gift certificates. Current law includes gift certificates within the definition of “property” subject to the disposition of unclaimed property provisions of Code chapter 556. The bill provides that, notwithstanding provisions in Code §556.2 specifying that intangible personal property that remains unclaimed by the owner for more than three years after it became payable or distributable is presumed abandoned, a gift certificate that is not subject to an expiration date or subject to any form of late payment charge or other charge or service fee remains eligible for presentation for an indefinite period of time, and shall not be presumed abandoned.

H.F. 2296
Signed by governor 4/10/14, Chapter 1089
Provides that funds represented by a gift certificate balance that has not been presented within five years from the date of issuance of the gift certificate are presumed abandoned, except a gift certificate redeemable for merchandise only that is not subject to an expiration date and that is not subject to a deduction from the face value of the gift certificate for failure of the owner of the gift certificate to present the gift certificate in a timely manner, or subject to any other charge or service fee, which card remains unpresented, shall continue in force and be eligible for presentation for an indefinite period of time, and shall not be subject to a presumption of abandonment.

New Jersey

A.B. 2847
Provides that gift certificates and cards shall not expire or contain dormancy fees.

A.B. 3480
Substituted 12/18/14
S.B. 2235
Passed both houses 12/18/14
Eliminates consumer data collection requirements for certain gift cards.

New York

A.B. 1627
Vetoed by governor 12/17/14
S.B. 6574
Substituted 6/11/14
Directs the commissioner of Environmental Conservation to create gift cards for hunting and fishing licenses.

A.B. 4273
S.B. 2927
Creates the crime of criminal practices with an access device, including a gift card.

A.B. 5907
Authorizes the commissioner of motor vehicles to establish gift cards for vanity plates.

Puerto Rico

S.B. 371
Passed Senate 1/21/14
Adopts a new law in order to regulate the sale and use of gift cards, which will be known as the Law of Gift Cards.

Wyoming

H.B. 131
Withdrawn 2/13/14
Relates to unclaimed property; includes electronic gift cards in the definition of intangible property; extends the period for abandonment of gift certificates, electronic gift cards and credit memos.

Colorado

H.B. 1102
Signed by governor 3/15/13, Chapter 44
Specifies that the "Unclaimed Property Act" does not apply to unclaimed gift cards where the holder or issuer is a business association with annual gross receipts from the sales or issuance of all gift cards totaling $200,000 or less.

Connecticut

S.B. 912
Signed by governor 7/11/13, Public Act 13-254
This act establishes in law a “linked prepaid card” as a type of general-use prepaid card (i.e., card, code, or device) and specifies the conditions under which such a card may include an expiration date. Under the act, the card purchaser or person who increases or replenishes funds on the card (the customer) may: 1. get back the unused balance and the interest earned on the unused balance through a financial account linked to the card; 2. set an expiration date at least 90 days from the date of purchase or increasing or replenishing funds for the purpose of receiving a refund of any unused balance and any accrued interest on that balance; and 3. transfer the unused balance to a bank offering a higher yield and full insurance from the Federal Deposit Insurance Corporation until the funds are exhausted or the card expires, if the customer has a financial account linked to the card. The act also makes technical changes (1) in various references to federal regulations to reflect the federal transfer of certain consumer protection issues to the U. S. Consumer Financial Protection Bureau and (2) to specify that expired general-use prepaid cards are not replaced if the unused balance has been returned to the card holder.

Georgia

S.B. 190
Amends Article 5 of Chapter 12 of Title 44 of the Official Code of Georgia Annotated, the "Disposition of Unclaimed Property Act," so as to provide for the presumption of abandonment of gift certificates, gift cards, and credit memos that remain unclaimed one year after issuance; to provide for disposition of funds.

Iowa

H.F. 85
This bill relates to amounts which the issuer of a gift certificate may deduct from the face value of the certificate based on the failure of the owner to present the certificate for payment in a timely manner.

Maine

L.D. 913
This bill amends the Uniform Unclaimed Property Act to exempt gift obligations and stored-value cards that are redeemable with multiple unaffiliated sellers from the provision in the Act that prohibits expiration dates for gift obligations and stored-value cards.

Minnesota

H.F. 1244
S.F. 1375
Relates to commerce; regulates unclaimed property; enacts and modifies the Uniform Unclaimed Property Act of 1995 adopted and recommended for passage by the National Conference of Commissioners on Uniform State Laws; makes conforming changes in state law.

Mississippi

H.B. 249
Died in committee 2/5/13
Enacts the Mississippi Uniform Unclaimed Property Act; provides that the State Treasurer shall be the administrator of unclaimed property in Mississippi; sets forth definitions; provides presumptions of abandonment; provides rules for taking custody of abandoned property; establishes the burden of proof as to property evidenced by record of check or draft; provides for the reporting of abandoned property; provides for the payment or delivery of abandoned property.

H.B. 1458
Died in committee 2/5/13
Prohibits the sale of gift cards or certificates with expiration dates, service fees or dormancy fees.

New York

A.B. 1627
Directs the commissioner of Environmental Conservation to create gift cards for hunting and fishing licenses.

A.B. 2984
Provides that gift certificates and store credits shall not contain expiration dates, except in limited circumstances where they are issued for promotional purposes without value being given by the consumer; makes certificates or credit with an expiration date redeemable in cash or replaceable by a certificate or credit without an expiration date.

A.B. 3008
Substituted 3/28/13
S.B. 2608
Signed by governor 3/29/13, Chapter 58
Authorizes the commissioner to establish gift cards for the licenses and bowhunting and muzzle-loading privileges set forth in §11-0701 of the Environmental Conservation Law title.

A.B. 4273
S.B. 2927
Passed Senate 4/22/13
Creates the crime of criminal practices with an access device, including a gift card.

A.B. 4674
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

A.B. 5907
Authorizes the commissioner of motor vehicles to establish gift cards for vanity plates.

A.B. 5915
Relates to the sale and use of gift certificates; requires that gift certificates last for at least seven years; requires that the date of issuance and the date of expiration of a gift certificate be either printed on the gift certificate, printed on a customer's receipt, or available through an Internet and toll-free telephone service.

A.B. 6052
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

Puerto Rico

S.B. 371
Adopts a new law in order to regulate the sale and use of gift cards, which will be known as the Law of Gift Cards.

Texas

H.B. 1723
Relates to the redemption of certain stored value cards, including gift cards, for cash.

Utah
H.B. 398
This bill modifies provisions in the Utah Consumer Sales Practices Act related to gift certificates. This bill: defines terms; prohibits application of an expiration date or a service fee, including a dormancy fee, to a gift certificate; and makes technical changes.

Illinois

H.B. 252
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the holder of a gift certificate issued on or after January 1, 2012 that has a balance of less than $10 must be given the option of receiving that balance in cash.

H.B. 4689
Sent to governor 6/14/12
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the term "gift certificate" includes a credit slip issued by a store to a consumer who returns goods that enables the consumer to receive other goods of similar value in exchange for the returned goods.

H.B. 4971
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the holder of a gift certificate issued on or after January 1, 2013 that has a balance of less than $10 must be given the option of receiving that balance in cash.

Iowa

H.F. 2171
This bill relates to amounts which the issuer of a gift certificate may deduct from the face value of the certificate based on the failure of the owner to present the certificate for payment in a timely manner. Currently, an amount may not be deducted unless a valid and enforceable written contract exists between the issuer and the owner of the gift certificate pursuant to which the issuer regularly imposes charges for failure to present and does not regularly reverse or otherwise cancel them. The bill makes this provision applicable only after a three-year time frame has elapsed from the date of issuance of the gift certificate, for gift certificates issued on or after July 1, 2012. The result is that no deduction is authorized from the face amount of a gift certificate for the three-year period following issuance for certificates issued on or after July 1, 2012.

Massachusetts

H.B. 128
Amends the definition of a gift certificate to be a writing identified as a gift certificate or a credit backed or bank issued gift card, purchased by a buyer for use by a person other than the buyer not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services supplied by the seller.

New Jersey

A.B. 1251
This bill provides that a gift certificate or gift card sold after the effective date of the bill will retain full unused value until presented in exchange for merchandise. Thus, this bill creates a gift certificate or gift card that never expires nor has a dormancy fee charged against it.

A.B. 1871
Passed Assembly 3/15/12
S.B. 1962
Reverses certain changes to laws governing state treatment of unclaimed property for gift certificates and stored value cards.

A.B. 2076
Mandates that gift cards and certificates be redeemable at full value in perpetuity; places requirements on establishments accepting store gift cards.

A.B. 3045
Substituted by S.B. 1928 6/25/12
A.B. 3189
S.B. 1928
Signed by governor 6/29/12, Chapter 14
Concerns the escheat of stored value cards and gift certificates.

New York

A.B. 1057
Provides that gift certificates and store credits shall not contain expiration dates, except in limited circumstances where they are issued for promotional purposes without value being given by the consumer; makes certificates or credit with an expiration date redeemable in cash or replaceable by a certificate or credit without an expiration date.

A.B. 1604
Requires that gift certificates, gift cards, or store credits have no expiration or diminution in value over time.

A.B. 3525
Requires retailers issuing gift certificates to hold the amount equal to the issued gift certificate in escrow to be paid out upon closing of such retailer.

A.B. 4062
Relates to the sale and use of gift certificates; requires that gift certificates last for at least seven years; requires that the date of issuance and the date of expiration of a gift certificate be either printed on the gift certificate, printed on a customer's receipt, or available through an Internet and toll-free telephone service.

A.B. 5615
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

A.B. 7576
S.B. 5161
Passed Senate 2/29/12
Directs the commissioner of environmental conservation to create gift cards for hunting and fishing licenses.

A.B. 9035
Imposes sales tax at the time of the sale of a gift certificate and exempts purchases made with a gift certificate.

A.B. 9263
Prohibits the sale of gift certificates and gift cards that diminish in value due to dormancy; and prohibits surcharges and fees on gift certificates and gift cards.

Pennsylvania

H.B. 643
Changes from five to four years before a gift certificate or gift card is presumed abandoned and unclaimed.

Puerto Rico

H.B. 982
Amends the law on sales terms and finance companies for purposes of defining what constitutes a gift card or gift certificate and its validity.

S.B. 1960
Passed both houses 6/30/12
Adopts a new statute governing the sale and use of gift cards in Puerto Rico, to be known as the Law for Gift Cards.

Rhode Island

H.B. 7523
Signed by governor 6/19/12, Chapter 281
This act permits a one year expiration date on gift certificates cards which are donated.

S.B. 2071
This act requires that gift certificates remain redeemable at their full value for three years, after which the value of the gift certificate may be decreased by no more than 10 percent per year.

S.B. 2433
Signed by governor 6/19/12, Chapter 270
This act permits a one year expiration date on gift certificates cards which are donated.

Utah

H.B. 217
This bill: modifies a provision which makes it a deceptive act or practice for a supplier, knowingly or intentionally, to issue a certain gift certificate, instrument, or other record without providing information about an expiration date and fee charged against the balance; and modifies that provision into a provision making it a deceptive act or practice for a supplier, knowingly or intentionally, to issue a gift certificate, instrument, or other record that is scheduled to expire or if a fee is to be charged against the balance.

Vermont

H.B. 730
Signed by governor 5/14/12, Act 136
Regulations loyalty, award, or promotional gift certificates.

DO NOT DELETE - NCSL Search Page Data

Related Resources

Blockchain 2022 Legislation

Blockchain is a distributed ledger technology that records and shares every transaction that occurs in the network of users. This page summarizes the 2022 blockchain, smart contracts and verifiable credentials state legislation.
Table

Cryptocurrency 2021 Legislation

2021 state legislation regarding cryptocurrencies and digital and virtual currencies. Digital or virtual currencies are a medium of exchange but are not regular money.
Table

Direct Shipment of Alcohol State Statutes

The majority of states have statutory provisions that allow for out-of-state manufacturers to ship alcoholic beverages directly to consumers. The majority of states restrict the direct shipments to wine.
Table
Loading
  • Contact