SB 22

Bill Subjects

Abstract

Existing law provides that a gift certificate, sold after January 1, 1997, is redeemable in cash or subject to replacement with a new gift certificate except that a gift certificate with a cash value of less than $10 is redeemable in cash for its cash value. This bill would instead make a gift certificate with a cash value of less than $25, adjusted annually for inflation based on the California Consumer Price Index and rounded to the nearest whole dollar amount, redeemable in cash for its cash value and would require an issuer of gift certificates to display at the cash register a notice of the right of the holder to redeem a gift certificate for cash pursuant to that provision.