Bill > HB2727

This bill updates Virginia's laws regarding gift certificates by redefining the term "gift certificate" to more specifically describe a prepaid payment device usable at a single merchant or affiliated group of merchants. The bill requires that gift certificates with expiration dates clearly display either the expiration date or a contact method for obtaining expiration information, and similarly requires disclosure of value reduction over time. A new provision prohibits merchants from selling gift certificates as part of an international transaction without first implementing a 24-hour hold on the certificate's activation. Additionally, the bill mandates that local law enforcement immediately report any gift certificate fraud to the Internet Crime Complaint Center (IC3) of the Federal Bureau of Investigation. These changes aim to provide consumers with more transparency about gift certificate terms and to enhance efforts to track and prevent gift certificate-related fraud by creating a standardized reporting mechanism. The modifications reflect evolving payment technologies and address potential consumer protection concerns in the digital marketplace.

Justice

https://lis.virginia.gov/bill-details/20251/HB2727