Gift certificates; prohibited practices. (HB859)

Introduced By

Sen. Adam Ebbin (D-Alexandria)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Gift certificates. Prohibits the issuer of a gift certificate from (i) charging, within the 12 months following the date of its issuance, a maintenance fee or inactivity fee on a gift certificate or (ii) issuing a gift certificate that, within the 24 months following the date of its issuance, automatically expires, diminishes in value, or otherwise becomes unredeemable. Merchants issuing gift certificates with a permissible maintenance fee or inactivity fee are required to disclose to the purchaser the terms pertaining to such a fee. If a gift certificate is issued with an expiration date or other time limit on its redemption, the issuer is required to provide a statement thereof. The required disclosures shall be provided prior to the completion of the certificate's purchase. Required information may be imprinted on the packaging material attached to the certificate at the time of sale. The definition of a gift certificate is expanded to include any record that contains a microprocessor chip, magnetic strip, or other storage medium that is prefunded and for which the value is adjusted upon each use. Amends § 59.1-530, § 59.1-531, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2008Committee
01/08/2008Prefiled and ordered printed; offered 01/09/08 088407492
01/08/2008Referred to Committee on Commerce and Labor
02/12/2008Left in Commerce and Labor

Comments

Emily writes:

I suport HOUSE BILL NO. 859 (HB859: Gift certificates; prohibited practices.) The comsumer needs to be protected from gift certificate expiration date fraud. Follow California's example and don't let innocent people who work hard for their money, get legally robbed.