00                             HOUSE BILL NO. 310                                                                          
01 "An Act relating to gift or credit certificates and making violations of certain gift or                                
02 credit certificate requirements unlawful trade practices; and relating to unclaimed                                     
03 property."                                                                                                              
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  AS 34.45.240 is amended by adding a new subsection to read:                                          
06            (c)  This section does not apply to a gift or credit certificate that is subject to                          
07       AS 45.45.940 and is issued on or after the effective date of this Act.                                            
08    * Sec. 2.  AS 45.45 is amended by adding a new section to read:                                                    
09            Sec. 45.45.940.  Gift and credit certificates.  (a)  A gift or credit certificate is                       
10       valid for the purchase of the goods or services to which the gift or credit certificate                           
11       applies, regardless of whether the gift or credit certificate has expired under an                                
12       expiration date established for the gift or credit certificate.                                                   
13            (b)  A person to whom a gift or credit certificate is tendered as payment for the                            
14       purchase of goods or services shall apply the gift or credit certificate towards the                              
01       purchase of goods or services to which the gift or credit certificate applies even if the                         
02       gift or credit certificate has expired under an expiration date established for the gift or                       
03       credit certificate.                                                                                               
04            (c)  A person may not deduct or impose a fee before or when a gift or credit                                 
05       certificate is applied as payment to the purchase of goods or services.                                           
06            (d)  This section does not apply to a gift or credit certificate that                                        
07                 (1)  is distributed by the issuer of the gift or credit certificate under an                            
08       awards, loyalty, or promotional program if the recipient does not give the issuer                                 
09       money or another thing of value in exchange for the gift or credit certificate;                                   
10                 (2)  is sold at a price that is less than the value of the gift or credit                               
11       certificate indicated on the face of the gift or credit certificate;                                              
12                 (3)  is donated to a nonprofit organization or a charitable organization                                
13       for fundraising purposes; or                                                                                      
14                 (4)  can be used to purchase goods or services from more than one                                       
15       seller of goods or services.                                                                                      
16            (e)  In this section,                                                                                        
17                 (1)  "device" includes a certificate and an electronic card with a banked                               
18       dollar value;                                                                                                     
19                 (2)  "gift or credit certificate" means                                                                 
20                      (A)  a device that                                                                                 
21                           (i)  is identified on the device as a gift certificate, gift                                  
22                 card, credit certificate, or credit memo;                                                               
23                           (ii)  is purchased with cash or another thing of value;                                       
24                           (iii)  is not redeemable in cash; and                                                         
25                           (iv)  can be used to the extent of the amount written on                                      
26                 the face of the device in place of cash to obtain goods or services                                     
27                 supplied by the person selling the gift or credit certificate.                                          
28    * Sec. 3.  AS 45.50.471(b) is amended by adding a new paragraph to read:                                           
29                 (51)  violating AS 45.45.940 (gift and credit certificates).                                            
30    * Sec. 4.  The uncodified law of the State of Alaska is amended by adding a new section to                         
31 read:                                                                                                                   
01       APPLICABILITY.  AS 45.45.940, enacted by sec. 2 of this Act, and                                                  
02 AS 45.50.471(b)(51), enacted by sec. 3 of this Act, do not apply to a gift or credit certificate                        
03 that is issued before the effective date of this Act.  In this section, "gift or credit certificate"                    
04 has the meaning given in AS 45.45.940.