Bill > SB437

This bill modifies existing Maryland law to clarify how the value of gift cards is determined for theft crimes and to create a new offense for tampering with gift cards. Specifically, it defines "gift card" to include both "closed-loop gift cards" (redeemable at a single merchant or affiliated group) and "open-loop gift cards" (redeemable at multiple unaffiliated merchants, like those branded with payment card networks), excluding credit cards, electronic transfers, and cash-like instruments. For theft purposes, the value of a gift card will be the highest value listed on the card or its packaging, or $100 if no value is listed, and it also considers the actual loss incurred. Furthermore, the bill makes it a misdemeanor offense, called gift card forgery, to intentionally alter or tamper with a gift card or its packaging with the intent to defraud, punishable by up to 18 months in jail or a $500 fine, or both.