S T A T E O F N E W Y O R K ________________________________________________________________________ 1057 2011-2012 Regular Sessions I N A S S E M B L Y (PREFILED) January 5, 2011 ___________ Introduced by M. of A. ORTIZ, CLARK, MILLMAN, McENENY, P. RIVERA, ROBIN- SON, COOK, O'DONNELL, GALEF -- Multi-Sponsored by -- M. of A. CAHILL, FARRELL, GOTTFRIED, HOOPER, JACOBS, MAGEE, MAYERSOHN, PEOPLES-STOKES -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to expiration of gift certificates THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. The general business law is amended by adding a new section 2 396-ii to read as follows: 3 S 396-II. GIFT CERTIFICATES. 1. IT SHALL BE UNLAWFUL FOR ANY PERSON, 4 FIRM, PARTNERSHIP, ASSOCIATION OR CORPORATION TO SELL GIFT CERTIFICATES 5 OR ISSUE STORE CREDITS TO A CONSUMER CONTAINING AN EXPIRATION DATE. ANY 6 GIFT CERTIFICATE SOLD OR STORE CREDIT ISSUED AFTER THE EFFECTIVE DATE OF 7 THIS SECTION, WHICH CONTAINS AN EXPIRATION DATE, SHALL BE REDEEMABLE IN 8 CASH FOR ITS CASH VALUE, OR SUBJECT TO REPLACEMENT WITH A NEW GIFT 9 CERTIFICATE AT NO COST TO THE CONSUMER. 10 2. THE PROVISIONS OF THIS SECTION SHALL NOT APPLY TO GIFT CERTIFICATES 11 OR STORE CREDITS DISTRIBUTED TO A CONSUMER FOR PROMOTIONAL PURPOSES 12 WITHOUT ANY MONEY OR OTHER THING OF VALUE BEING GIVEN IN EXCHANGE FOR 13 THE GIFT CERTIFICATE OR ISSUANCE OF STORE CREDITS BY THE CONSUMER. 14 S 2. This act shall take effect on the sixtieth day after it shall 15 have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04522-01-1