The bill aims to enhance consumer protection regarding gift certificates by amending existing laws. Key provisions include prohibiting retailers from imposing expiration dates, service fees, and dormancy or inactivity charges on gift certificates. Additionally, the bill mandates that if a gift certificate is used for a purchase that is less than its value, the remaining balance must be provided to the bearer in cash or as a new gift certificate, with a threshold of $50 for cash redemption. The legislation also allows for the reloading of gift certificates in any dollar amount chosen by the bearer, subject to a maximum set by the issuer, and requires that consumers be able to combine gift certificates with other payment methods for purchases exceeding the certificate's balance.

The bill introduces new legal language to clarify the definitions of "gift card" and "gift certificate," including electronic mediums and loyalty points. It emphasizes the intent to protect consumers by ensuring that gift certificates retain their full value and are redeemable under fair conditions. The act is set to take effect on July 1, 2024, applying to all gift certificates issued or reloaded with funds on or after that date.

Statutes affected:
Original Bill: 19.240.005, 19.240.010, 19.230.010