NOTE: The governor signed this measure on 3/15/2013.
      
      
      HOUSE BILL 13-1102
      
      
      BY REPRESENTATIVE(S) Gerou, Pabon, Saine, Williams, Wright;
      also SENATOR(S) Brophy, Aguilar, Baumgardner, Cadman, Jahn, King,
      Lambert, Newell, Steadman, Tochtrop, Todd.
      
      
      Concerning an exemption to the "Unclaimed Property Act" for gift
           cards issued by small businesses.
       
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 38-13-102, add (5.7)
      as follows:
      
           38-13-102.  Definitions and use of terms. As used in this article,
      unless the context otherwise requires:
      
           (5.7) (a)  "Gift card" means a prefunded tangible or
      electronic record of a specific monetary value evidencing a
      business association's agreement to provide goods, services,
      credit, money, or anything of value.
      
           (b)  "Gift card" includes, but is not limited to, a tangible
      card; electronic card; stored-value card; or certificate or
      similar instrument, card, or tangible record, all of which contain
      a microprocessor chip, magnetic chip, or other means for the
      storage of information and for which the value is decremented
      upon each use.
      
           (c)  "Gift card" does not include a prefunded tangible or
      electronic record issued by, or on behalf of, any government
      agency; a gift certificate that is issued only on paper; a prepaid
      telecommunications or technology card; a card or certificate
      issued to a consumer pursuant to an awards, loyalty, or
      promotional program for which no money or other item of
      monetary value was exchanged; a card issued for wages or other
      payroll purposes; a card used for rebates or refunds; or a card
      that is donated or sold below face value at a volume discount to
      an employer or charitable organization for fundraising purposes.
      
           SECTION 2.  In Colorado Revised Statutes, add 38-13-108.9 as
      follows:
      
           38-13-108.9.  Unclaimed gift cards - limited exception. This
      article does not apply to unclaimed gift cards where the holder
      or issuer is a business association with annual gross receipts from
      the sales or issuance of all gift cards totaling two hundred
      thousand dollars or less.
      
           SECTION 3.  Applicability. This act applies to business
      associations with annual gross receipts from the sales of gift cards totaling
      two hundred thousand dollars or less on or after the effective date of this act
      and to any unresolved claims by the state treasurer against any business
      association for payment related to unclaimed gift cards as of the effective
      date of this act.
      
           SECTION 4.  Safety clause. The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ________________________________________________________
      Mark Ferrandino                         John P. Morse
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO