(Phoenix, Ariz. – February 8, 2005) Arizona Attorney General Terry Goddard applauded the “gift card” legislation being considered by the State Senate Commerce and Economic Development Committee on Wednesday morning.
“This legislation will ensure that consumers are provided all relevant information before purchasing a gift card,” Goddard said.
The legislation being considered requires stores and service providers to advertise their gift card penalty policy but still allows retailers to charge fees, including dormancy fees. A dormancy fee is automatically deducted from the balance of the card for each month the card is not used after a certain time period from the date the card is issued.
Goddard also supports Senator Jay Tibshraeny’s bill (SB1022) that would eliminate gift card service fees. However, this bill has not been scheduled for a hearing.
SB 1299 will be heard at 8:30 a.m. on Wednesday, February 9 by the State Senate Commerce and Economic Development Committee in the Arizona State Senate Building, SHR1.