02/09/2009 03:15 PM House LABOR & COMMERCE

HB 64-GIFT CARDS                                                                                                              
                                                                                                                                
3:36:29 PM                                                                                                                    
                                                                                                                                
CHAIR OLSON announced  that the final order of  business would be                                                               
HOUSE  BILL NO.  64, "An  Act relating  to gift  certificates and                                                               
gift cards, and to unclaimed  property; and making a violation of                                                               
certain gift card prohibitions an unlawful trade practice."                                                                     
                                                                                                                                
3:36:37 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE GATTO,  Alaska State Legislature, speaking  as one                                                               
of the joint  prime sponsors of HB 64, stated  that this bill has                                                               
previously  been before  the House  Labor  and Commerce  Standing                                                               
Committee  for a  hearing.   He  recalled subsequent  discussions                                                               
with the  members who had questions  about the bill.   He offered                                                               
to answer any additional questions members may have.                                                                            
                                                                                                                                
3:37:05 PM                                                                                                                    
                                                                                                                                
CHAIR  OLSON,  after first  determining  that  no one  wished  to                                                               
testify, closed public testimony on HB 64.                                                                                      
                                                                                                                                
3:37:26 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE COGHILL  recalled his earlier questions  about the                                                               
perpetuity provision  in HB 64.   He referred members to  page 3,                                                               
line 18,  then stated  that the bill  sponsors have  answered his                                                               
questions.   He  related  his understanding  that  when a  person                                                               
purchases a  gift card, a  certain amount of money  is exchanged.                                                               
Thus, the  value of  the gift  card should  remain the  same over                                                               
time.    Therefore,   he  said  he  removes   any  objections  he                                                               
previously had with HB 64.                                                                                                      
                                                                                                                                
3:38:13 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  NEUMAN  moved  to   report  HB  64,  Version  26-                                                               
LS0201\E, out  of committee  with individual  recommendations and                                                               
the accompanying fiscal  notes.  There being no  objection, HB 64                                                               
was  reported   from  the  House  Labor   and  Commerce  Standing                                                               
Committee.