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Assembly committee advances SB 22 to raise small-value gift-card cash-outs amid fraud and safety concerns
Summary
Sen. John Laird’s SB 22, which would raise the minimum value at which retailers must redeem a gift card for cash, was passed as amended by the committee after debate over fraud, cash-on-hand for small businesses and exemptions for donated cards.
The Assembly Bridal Consumer Protection Committee voted to pass SB 22 as amended, a measure by Sen. John Laird that would raise the amount consumers can redeem from a gift card in cash, and to keep the bill on call for further action.
Laird opened by saying the law that set a $10 cash‑out threshold dates to 2007 and has not been adjusted for inflation. ‘‘My real goal is to deal with an inflationary increase of the amount,’’ he told the committee, saying $15 would approximate the same purchasing power as $10 in 2007. He said the bill’s intent is to benefit consumers who often do not redeem small…
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