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Assembly Bill A5865

2025-2026 Legislative Session

Relates to prepaid debit cards

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Current Bill Status - In Assembly Committee

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2025-A5865 (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Amd §396-i, Gen Bus L

2025-A5865 (ACTIVE) - Summary

Relates to cash out requirements for certain prepaid gift cards.

2025-A5865 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5865
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 24, 2025
                                ___________
 
 Introduced  by M. of A. STECK -- read once and referred to the Committee
   on Consumer Affairs and Protection
 
 AN ACT to amend the general  business  law,  in  relation  to  cash  out
   requirements for prepaid debit cards
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 5-b of section 396-i of  the  general  business
 law,  as added by chapter 668 of the laws of 2021, is amended to read as
 follows:
   5-b. A gift certificate, other than [an open loop gift certificate or]
 a promotional gift certificate, with a  remaining  value  of  less  than
 [five] TEN dollars may be redeemed upon request for its cash value.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09659-02-5

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