Senate Bill 900 aims to establish regulations for gift certificates, gift cards, and other gift obligations in Wisconsin, aligning state law with federal standards. The bill prohibits the sale of gift obligations with expiration dates earlier than five years from the date of sale or, for reloadable items, five years from the last loading of funds. Additionally, it restricts the imposition of dormancy, inactivity, or service fees, allowing such fees only if there has been no activity for one year, the fees are clearly disclosed, and only one fee can be charged per month.

The bill also introduces enforcement mechanisms, allowing the Department of Agriculture, Trade and Consumer Protection or district attorneys to impose civil penalties of up to $10,000 for violations. It provides a private right of action for individuals who suffer financial losses due to violations, enabling them to recover either twice their loss or $200 per violation, along with legal costs. Furthermore, the bill amends existing law to include the new section on gift obligations, ensuring comprehensive legal support for enforcement.

Statutes affected:
Bill Text: 165.25(4)(ar), 165.25