The proposed bill aims to establish the criminal offense of gift card fraud in Arkansas by adding a new section to the Arkansas Code Title 5, Chapter 37. This section defines key terms related to gift cards, including "card holder," "card issuer," "gift card," "gift card redemption information," and "value." It outlines the actions that constitute gift card fraud, such as acquiring or retaining possession of a gift card with the intent to defraud, obtaining gift card information through deception, and knowingly using such information for unlawful gain. The bill categorizes the offense into varying degrees of felonies and misdemeanors based on the value of the gift card or information involved, with penalties ranging from Class A misdemeanors to Class B felonies.

Additionally, the bill includes an emergency clause, stating that gift card fraud is a significant issue affecting businesses and consumers in Arkansas. It emphasizes the urgency of the legislation to deter such fraudulent activities and protect the state's economy. The act will take effect immediately upon approval by the Governor or under specific conditions if not acted upon.