Bill > SF266

This bill creates a comprehensive legal framework for addressing crimes involving gift cards, defining key terms such as "cardholder," "card issuer," and "gift card redemption information." The legislation establishes multiple criminal offenses related to gift card fraud, including theft, forgery, and fraudulent practices involving gift cards. Specifically, the bill makes it a crime to acquire or retain a gift card or its redemption information without consent, alter or tamper with a gift card, or devise schemes to fraudulently obtain gift cards. The penalties for these offenses are graduated based on the monetary value involved, ranging from a serious misdemeanor for amounts under $500 to a class "C" felony for amounts exceeding $5,000. The law allows for aggregation of value over a six-month period when determining the severity of the charge, which means multiple smaller fraudulent activities can be combined to potentially increase the criminal classification. By creating these detailed provisions, the bill aims to protect consumers and merchants from gift card-related fraud and provide law enforcement with clear guidelines for prosecuting such crimes. The bill is set to take effect on July 1, 2025, giving businesses and legal systems time to prepare for its implementation.

Justice

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF266