Bill Text: PA HB206 | 2009-2010 | Regular Session | Introduced

---

Bill Title: In abandoned and unclaimed property, further providing for definitions, for property subject to custody and control of the Commonwealth and for property held by business associations.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2009-02-02 - Referred to CONSUMER AFFAIRS [HB206 Detail]

Download: Pennsylvania-2009-HB206-Introduced.html

---

PRINTER'S NO. 205
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 206 Session of2009
INTRODUCED BY GODSHALL, PRESTON, DONATUCCI, GIBBONS, MELIO, PEIFER, REICHLEY, SAYLOR AND SIPTROTH, FEBRUARY 2, 2009
REFERRED TO COMMITTEE ON CONSUMER AFFAIRS, FEBRUARY 2, 2009
AN ACT
Amending the act of April 9, 1929 (P.L.343, No.176), entitled,
as amended, "An act relating to the finances of the State
government; providing for the settlement, assessment,
collection, and lien of taxes, bonus, and all other accounts
due the Commonwealth, the collection and recovery of fees and
other money or property due or belonging to the Commonwealth,
or any agency thereof, including escheated property and the
proceeds of its sale, the custody and disbursement or other
disposition of funds and securities belonging to or in the
possession of the Commonwealth, and the settlement of claims
against the Commonwealth, the resettlement of accounts and
appeals to the courts, refunds of moneys erroneously paid to
the Commonwealth, auditing the accounts of the Commonwealth
and all agencies thereof, of all public officers collecting
moneys payable to the Commonwealth, or any agency thereof,
and all receipts of appropriations from the Commonwealth,
authorizing the Commonwealth to issue tax anticipation notes
to defray current expenses, implementing the provisions of
section 7(a) of Article VIII of the Constitution of
Pennsylvania authorizing and restricting the incurring of
certain debt and imposing penalties; affecting every
department, board, commission, and officer of the State
government, every political subdivision of the State, and
certain officers of such subdivisions, every person,
association, and corporation required to pay, assess, or
collect taxes, or to make returns or reports under the laws
imposing taxes for State purposes, or to pay license fees or
other moneys to the Commonwealth, or any agency thereof,
every State depository and every debtor or creditor of the
Commonwealth," in abandoned and unclaimed property, further
providing for definitions, for property subject to custody
and control of the Commonwealth and for property held by
business associations.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The definitions of "general use prepaid cards,"
"gift card," "gift certificate" and "qualified gift certificate"
in section 1301.1 of the act of April 9, 1929 (P.L.343, No.176),
known as The Fiscal Code, added November 9, 2006 (P.L.1335, No.
138), are amended to read:
Section 1301.1. Definitions.--As used in this article,
unless the context otherwise requires:
* * *
["General use prepaid cards" shall mean cards issued only by
a bank or other similarly regulated financial institution or by
a licensed money transmitter and shall mean plastic cards or
other electronic payment devices which are:
(1) usable and honored upon presentation at multiple,
unaffiliated merchants or service providers for goods or
services or at automated teller machines (ATMs); and
(2) issued in a requested prepaid amount which amount may
be, at the option of the issuer, increased in value or reloaded
if requested by the holder.
The term shall not include debit cards linked to a deposit
account or prepaid telephone calling cards. The term also shall
not include flexible spending arrangements, including health
reimbursement arrangements, as defined in section 106(c)(2) of
the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C.
§ 106(c)(2)); flexible spending accounts subject to section 125
of the Internal Revenue Code of 1986; Archer MSAs as defined in
section 220(d) of the Internal Revenue Code of 1986; dependent
care reimbursement accounts subject to section 129 of the
Internal Revenue Code of 1986; health savings accounts subject
20090HB0206PN0205 - 2 -
to section 223(d) of the Internal Revenue Code of 1986; or
similar accounts from which, under the Internal Revenue Code of
1986 and its implementing regulations, individuals may pay
medical expenses, health care expenses, dependent care expenses
or similar expenses on a pretax basis.
"Gift card" shall mean plastic cards or other electronic
payment devices which are:
(i) usable and honored upon presentation at a single
merchant or an affiliated group or merchants that share the same
name, mark or logo, or usable at multiple, unaffiliated
merchants or service providers for the future purchase or
delivery of any goods or services; and
(ii) issued in a specified prepaid amount and may or may not
be increased in value or reloaded.
The term shall not include general use prepaid cards or debit
cards linked to a deposit account. The term also shall not
include flexible spending arrangements, including health
reimbursement arrangements, as defined in section 106(c)(2) of
the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C.
§ 106(c)(2)); flexible spending accounts subject to section 125
of the Internal Revenue Code of 1986; Archer MSAs as defined in
section 220(d) of the Internal Revenue Code of 1986; dependent
care reimbursement accounts subject to section 129 of the
Internal Revenue Code of 1986; health savings accounts subject
to section 223(d) of the Internal Revenue Code of 1986; or
similar accounts from which, under the Internal Revenue Code and
its implementing regulations, individuals may pay medical
expenses, health care expenses, dependent care expenses or
similar expenses on a pretax basis.]
"Gift certificate" shall [mean a written promise which is:
20090HB0206PN0205 - 3 -
(i) usable and honored upon presentation at a single
merchant or an affiliated group of merchants that share the same
name, mark or logo, or usable at multiple, unaffiliated
merchants or service providers for the future purchase or
delivery of any goods or services; and
(ii) issued in a specific prepaid amount and may or may not
be increased in value or reloaded.
The term shall not include general use prepaid cards or debit
cards linked to a deposit account. The term also shall not
include flexible spending arrangements, including health
reimbursement arrangements, as defined in section 106(c)(2) of
the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C.
§ 106(c)(2)); flexible spending accounts subject to section 125
of the Internal Revenue Code of 1986; Archer MSAs as defined in
section 220(d) of the Internal Revenue Code of 1986; dependent
care reimbursement accounts subject to section 129 of the
Internal Revenue Code of 1986; health savings accounts subject
to section 223(d) of the Internal Revenue Code of 1986; or
similar accounts from which, under the Internal Revenue Code and
its implementing regulations, individuals may pay medical
expenses, health care expenses, dependent care expenses or
similar expenses on a pretax basis.] have the same meaning given
to it under section 2 of the act of December 17, 1968 (P.L.1224,
No.387), known as the "Unfair Trade Practices and Consumer
Protection Law."
* * *
["Qualified gift certificate" shall mean a gift certificate
or gift card that does not contain any of the following:
(i) An expiration date or a period of time after which it
expires.
20090HB0206PN0205 - 4 -
(ii) Any type of postsale charge or fee, including, but not
limited to, a service charge, dormancy fee, account maintenance
fee, cash-out fee, replacement card fee or activation or
reactivation fee.
The term shall not include general use prepaid cards.]
* * *
Section 2. Section 1301.2 of the act is amended by adding a
subsection to read:
Section 1301.2. Property Subject to Custody and Control of
the Commonwealth.--
* * *
(d) The consideration paid for a gift certificate held by a
business association is not subject to the custody and control
of the Commonwealth under this article.
Section 3. Clause 1 of section 1301.6 of the act, amended
November 9, 2006 (P.L.1335, No.138), is amended to read:
Section 1301.6. Property Held by Business Associations.--The
following property held or owing by a business association is
presumed abandoned and unclaimed:
[1. The consideration paid for a gift certificate or gift
card which has remained unredeemed for two (2) years or more
after its redemption period has expired or for five (5) years or
more from the date of issuance if no redemption period is
specified. The provisions of this clause shall not apply to a
qualified gift certificate.]
* * *
Section 4. This act shall take effect in 60 days.
20090HB0206PN0205 - 5 -