Exempts multi-use gift cards from definition of gift certificate.

A BILL FOR AN ACT

SECTION 1. Section 481B-13, Hawaii Revised Statutes, is amended by amending subsection (e) to read as follows:

"(e) As used in this section, unless the context requires otherwise:

"Certificate issuer" or "issuer" means a restaurant or a person engaged in the business of offering services or goods for sale at retail who sells gift certificates to customers.

"Gift certificate" or "certificate" includes any electronic card with a banked dollar value where the issuer has received payment for the full banked dollar value for the future purchase or delivery of goods or services, any certificate where the issuer has received payment for the full face value of the certificate for future purchases or delivery of goods or services, and any other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, or services of at least an equal value. As used in this section, "gift certificate" or "certificate" does not include any electronic card or certificate when the banked dollar value or face value is usable with multiple sellers of goods or services. This exemption does not apply to an electronic card or certificate when the banked dollar or face value is usable only with affiliated sellers of goods or services."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.