Assembly Bill A8745

Signed By Governor
2021-2022 Legislative Session

Relates to the definition of gift certificate

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S7714 - Signed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2021-A8745 (ACTIVE) - Details

See Senate Version of this Bill:
S7714
Law Section:
General Business Law
Laws Affected:
Amd §396-i, Gen Bus L (as proposed in S.3467-B & A.4629-C)

2021-A8745 (ACTIVE) - Summary

Establishes that a gift certificate does not include a fare payment card or electronic payment device used to pay for travel on a public transportation authority system.

2021-A8745 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8745
 
                           I N  A S S E M B L Y
 
                             January 11, 2022
                                ___________
 
 Introduced by M. of A. SAYEGH -- read once and referred to the Committee
   on Consumer Affairs and Protection
 
 AN  ACT to amend the general business law, in relation to the definition
   of gift certificate
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (b)  of  subdivision 1 of section 396-i of the
 general business law, as amended by a chapter of the laws of 2021 amend-
 ing the general business  law  relating  to  fees  for  gift  cards,  as
 proposed  in  legislative  bills  numbers  S.  3467-B  and A. 4629-C, is
 amended to read as follows:
   (b) Gift certificate shall  not  include  (I)  an  electronic  payment
 device  linked to a deposit account or which is covered by the exclusion
 set forth in 15 U.S.C. § 1693[I-1] L-1(a)(2)(D)(ii), (II) A FARE PAYMENT
 CARD OR ELECTRONIC PAYMENT DEVICE USED TO PAY FOR  TRAVEL  ON  A  PUBLIC
 TRANSPORTATION  AUTHORITY  SYSTEM,  or  (III)  prepaid telephone calling
 cards regulated under section ninety-two-f of the  public  service  law.
 Gift  certificate  also shall not include flexible spending arrangements
 as defined in Section 106(c)(2) of the Internal Revenue Code, 26  U.S.C.
 §  106(c)(2);  flexible  spending accounts subject to Section 125 of the
 Internal Revenue Code, 26 U.S.C.  §  125;  Archer  MSAs  as  defined  in
 Section 220(d) of the Internal Revenue Code, 26 U.S.C. § 220(d); depend-
 ent  care  reimbursement accounts subject to Section 129 of the Internal
 Revenue Code, 26 U.S.C.  §  129;  health  savings  accounts  subject  to
 Section  223(d)  of  the  Internal  Revenue Code, 26 U.S.C. § 223(d), as
 amended by Section 1201 of the Medicare Prescription Drug,  Improvement,
 and Modernization Act of 2003, Pub. L.  No. 108-173; or similar accounts
 from  which,  under the Internal Revenue Code and its implementing regu-
 lations, individuals may pay medical  expenses,  health  care  expenses,
 dependent  care  expenses,  or  similar expenses on a pretax basis. Gift
 certificate also shall not include a prepaid discount  card  or  program
 used  to  purchase identified goods or services at a price or percentage
 below the normal and customary price; provided that any expiration  date
 of  the  prepaid  discount  card or program is clearly and conspicuously
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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