Senate Bill S133B

Signed By Governor
2021-2022 Legislative Session

Relates to establishing a set grace period for the use of credit card reward points

download bill text pdf

Sponsored By

Archive: Last Bill Status - 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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Votes

Bill Amendments

co-Sponsors

2021-S133 - Details

See Assembly Version of this Bill:
A5698
Law Section:
General Business Law
Laws Affected:
Add §520-e, Gen Bus L
Versions Introduced in 2019-2020 Legislative Session:
S7104, A9588

2021-S133 - Summary

Relates to establishing a set grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated; provides ninety days shall be provided for the use of such points from the date notice of modification, cancellation, or termination of the card is provided.

2021-S133 - Sponsor Memo

2021-S133 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    133
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced by Sens. MAYER, JACKSON, KRUEGER, LIU, MYRIE, SALAZAR -- read
   twice  and  ordered  printed,  and when printed to be committed to the
   Committee on Consumer Protection
 
 AN ACT to amend the general business law, in relation to establishing  a
   set grace period for the use of credit card reward points
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new section
 520-e to read as follows:
   § 520-E. GRACE PERIOD FOR USE OF CREDIT CARD REWARD POINTS. 1. AS USED
 IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "CREDIT CARD POINTS" OR "POINTS" SHALL MEAN DENOMINATED UNITS THAT
 CAN BE ACCUMULATED IN AN  ACCOUNT  IN  CONNECTION  WITH  A  CREDIT  CARD
 REWARD, LOYALTY, OR OTHER INCENTIVE PROGRAM, OFTEN REFERRED TO AS POINTS
 OR  FOR  CERTAIN  TRAVEL-RELATED REWARDS AS MILES, WHICH ARE REDEEMABLE,
 FUNGIBLE, OR OTHERWISE EXCHANGEABLE, IN WHOLE OR IN PART, FOR REWARDS;
   (B) "REWARDS" SHALL MEAN GOODS, SERVICES, CASH, MERCHANT-SPECIFIC GIFT
 CARDS, TRAVEL BENEFITS, OR ONE OR MORE OTHER THINGS OF VALUE; AND
   (C) "REWARDS PROGRAM" SHALL MEAN ANY AGREEMENT BETWEEN A HOLDER AND AN
 ISSUER REGARDING POINTS RELATED TO AN ACCOUNT.
   2. IF  ANY  CREDIT  CARD  ACCOUNT  OR  REWARDS  PROGRAM  IS  MODIFIED,
 CANCELLED, CLOSED OR TERMINATED, THE HOLDER MUST RECEIVE NOTICE FROM THE
 ISSUER  OF  SUCH  CANCELLATION,  CLOSURE, TERMINATION OR MODIFICATION AS
 SOON AS POSSIBLE, AND IN ANY EVENT WITHIN FIFTEEN DAYS OF SUCH CANCELLA-
 TION, CLOSURE, TERMINATION OR MODIFICATION. BEGINNING WITH THE  DATE  ON
 WHICH  NOTICE  IS  SENT,  THE  HOLDER  SHALL HAVE NINETY DAYS TO REDEEM,
 EXCHANGE, OR OTHERWISE USE ANY CREDIT CARD POINTS THAT THE HOLDER  ACCU-
 MULATED  AT  THE  TIME  OF  SUCH MODIFICATION, CANCELLATION, CLOSURE, OR
 TERMINATION AS PERMITTED UNDER THE TERMS OF THE AGREEMENT OR  AGREEMENTS
 BETWEEN  THE  HOLDER  AND  THE  ISSUER WHICH IS SERVICING THE APPLICABLE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

co-Sponsors

2021-S133A - Details

See Assembly Version of this Bill:
A5698
Law Section:
General Business Law
Laws Affected:
Add §520-e, Gen Bus L
Versions Introduced in 2019-2020 Legislative Session:
S7104, A9588

2021-S133A - Summary

Relates to establishing a set grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated; provides ninety days shall be provided for the use of such points from the date notice of modification, cancellation, or termination of the card is provided.

2021-S133A - Sponsor Memo

2021-S133A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  133--A
     Cal. No. 769
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by  Sens.  MAYER,  GAUGHRAN, JACKSON, KRUEGER, LIU, MANNION,
   MYRIE, SALAZAR -- read twice and ordered printed, and when printed  to
   be  committed  to  the  Committee  on  Consumer Protection -- reported
   favorably from said committee, ordered to  first  and  second  report,
   ordered  to  a  third  reading,  passed by Senate and delivered to the
   Assembly, recalled, vote  reconsidered,  restored  to  third  reading,
   amended  and  ordered  reprinted,  retaining its place in the order of
   third reading
 
 AN ACT to amend the general business law, in relation to establishing  a
   set grace period for the use of credit card reward points
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new section
 520-e to read as follows:
   § 520-E. GRACE PERIOD FOR USE OF CREDIT CARD REWARD POINTS. 1. AS USED
 IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "CREDIT CARD POINTS" OR "POINTS" SHALL MEAN DENOMINATED UNITS THAT
 CAN BE ACCUMULATED IN AN  ACCOUNT  IN  CONNECTION  WITH  A  CREDIT  CARD
 REWARD, LOYALTY, OR OTHER INCENTIVE PROGRAM, OFTEN REFERRED TO AS POINTS
 OR  FOR  CERTAIN  TRAVEL-RELATED REWARDS AS MILES, WHICH ARE REDEEMABLE,
 FUNGIBLE, OR OTHERWISE EXCHANGEABLE, IN WHOLE OR IN PART, FOR REWARDS;
   (B) "REWARDS" SHALL MEAN GOODS, SERVICES, CASH, MERCHANT-SPECIFIC GIFT
 CARDS, TRAVEL BENEFITS, OR ONE OR MORE OTHER THINGS OF VALUE; AND
   (C) "REWARDS PROGRAM" SHALL MEAN ANY AGREEMENT BETWEEN A HOLDER AND AN
 ISSUER REGARDING POINTS RELATED TO AN ACCOUNT.
   2. IF  ANY  CREDIT  CARD  ACCOUNT  OR  REWARDS  PROGRAM  IS  MODIFIED,
 CANCELLED, CLOSED OR TERMINATED, THE HOLDER MUST BE PROVIDED NOTICE FROM
 THE ISSUER OF SUCH CANCELLATION, CLOSURE, TERMINATION OR MODIFICATION AS
 SOON  AS  POSSIBLE,  AND  IN  ANY  EVENT  WITHIN FORTY-FIVE DAYS OF SUCH
 CANCELLATION, CLOSURE, TERMINATION OR MODIFICATION. BEGINNING  WITH  THE
 
              

co-Sponsors

2021-S133B (ACTIVE) - Details

See Assembly Version of this Bill:
A5698
Law Section:
General Business Law
Laws Affected:
Add §520-e, Gen Bus L
Versions Introduced in 2019-2020 Legislative Session:
S7104, A9588

2021-S133B (ACTIVE) - Summary

Relates to establishing a set grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated; provides ninety days shall be provided for the use of such points from the date notice of modification, cancellation, or termination of the card is provided.

2021-S133B (ACTIVE) - Sponsor Memo

2021-S133B (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  133--B
     Cal. No. 769
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by  Sens.  MAYER,  GAUGHRAN, JACKSON, KRUEGER, LIU, MANNION,
   MYRIE, SALAZAR -- read twice and ordered printed, and when printed  to
   be  committed  to  the  Committee  on  Consumer Protection -- reported
   favorably from said committee, ordered to  first  and  second  report,
   ordered  to  a  third  reading,  passed by Senate and delivered to the
   Assembly, recalled, vote  reconsidered,  restored  to  third  reading,
   amended  and  ordered  reprinted,  retaining its place in the order of
   third reading -- again amended and ordered  reprinted,  retaining  its
   place in the order of third reading
 
 AN  ACT to amend the general business law, in relation to establishing a
   set grace period for the use of credit card reward points
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new section
 520-e to read as follows:
   § 520-E. GRACE PERIOD FOR USE OF CREDIT CARD REWARD POINTS. 1. AS USED
 IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "CREDIT CARD POINTS" OR "POINTS" SHALL MEAN DENOMINATED UNITS THAT
 CAN  BE  ACCUMULATED  IN  AN  ACCOUNT  IN  CONNECTION WITH A CREDIT CARD
 REWARD, LOYALTY, OR OTHER INCENTIVE PROGRAM, OFTEN REFERRED TO AS POINTS
 OR FOR CERTAIN TRAVEL-RELATED REWARDS AS MILES,  WHICH  ARE  REDEEMABLE,
 FUNGIBLE, OR OTHERWISE EXCHANGEABLE, IN WHOLE OR IN PART, FOR REWARDS;
   (B) "REWARDS" SHALL MEAN GOODS, SERVICES, CASH, MERCHANT-SPECIFIC GIFT
 CARDS, TRAVEL BENEFITS, OR ONE OR MORE OTHER THINGS OF VALUE;
   (C) "REWARDS PROGRAM" SHALL MEAN ANY AGREEMENT BETWEEN A HOLDER AND AN
 ISSUER REGARDING POINTS RELATED TO AN ACCOUNT; AND
   (D)  "MODIFIED"  OR  "MODIFICATION"  SHALL  MEAN A CHANGE THAT HAS THE
 EFFECT OF ELIMINATING POINTS, REDUCING THE VALUE  OF  POINTS,  AFFECTING
 THE  ABILITY  OF  A  HOLDER  TO  ACCUMULATE POINTS, LIMITING OR REDUCING
 REWARDS AVAILABILITY, LIMITING A HOLDER'S USE OF POINTS  OR  THE  CREDIT
 
              

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