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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to consumer protection
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to expiration dates on gift certificates
In Assembly Committee · Consumer Affairs And Protection · Sponsor Linda Rosenthal
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the general business law, in relation to prohibiting expiration dates on gift cards
Purpose
To prohibit gift cards sold in the State of New York to have an expiration date.
Summary of provisions
Section 1. amends subdivision 3 of section 396-I of the general business law, as amended by chapter 507 of the laws of 2004 to prohibit gift certificates to have gift cards.
Section 2 states that this act shall take effect immediately.
Justification
In 2009 the Federal CARD Act was enacted which provided a number of new consumer protections for gift certificates, gift cards and other pre-paid cards, specifically it limited fees as well as establishes a minimum period of five years before gift cards and certificates are able to expire. New York State had enacted legislation in 2004 which required that any expiration date shall be clearly and conspicuously stated.
However, it has come to the Sponsor's attention that in many cases gift cards and gift certificates are being sold with expiration dates of less than five years and no expiration date stated, which has led to consumers going to redeem their gift certificates and being told they have expired.
This legislation seeks to address this problem by prohibiting gift cards and certificates to have an expiration date sold in the State of New York. This is currently being done in at least 10 other states including California and Connecticut.
Legislative history
New Bill.
Fiscal implications
None to the State.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.