Senate Bill S7714

Signed By Governor
2021-2022 Legislative Session

Relates to the definition of gift certificate

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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2021-S7714 (ACTIVE) - Details

See Assembly Version of this Bill:
A8745
Law Section:
General Business Law
Laws Affected:
Amd §396-i, Gen Bus L (as proposed in S.3467-B & A.4629-C)

2021-S7714 (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-S7714 (ACTIVE) - Sponsor Memo

2021-S7714 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7714
 
                             I N  S E N A T E
 
                              January 7, 2022
                                ___________
 
 Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 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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