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THE BILL ITSELF

SB 826

Gift Certificates

VERSION S 826 Filed · BACK TO THE SUMMARY · OFFICIAL RECORD

underlined language is being added; struck language is being deleted. Line numbers are the Legislature's own — the same ones amendments cite.

Florida Senate - 2026 SB 826 By Senator Leek 7-00351A-26 2026826__
1 A bill to be entitled
2 An act relating to gift certificates; amending s.
3 501.95, F.S.; revising the definition of the term
4 “gift certificate”; deleting provisions authorizing
5 the expiration of a gift certificate under specified
6 circumstances; reenacting ss. 538.03(1)(i) and
7 717.1045, F.S., relating to definitions regarding
8 secondhand dealers and to gift certificates and
9 similar credit items, respectively, to incorporate the
10 amendment made to s. 501.95, F.S., in references
11 thereto; providing an effective date.
13 Be It Enacted by the Legislature of the State of Florida:
15 Section 1. Paragraph (b) of subsection (1) and paragraph
16 (a) of subsection (2) of section 501.95, Florida Statutes, are
17 amended to read:
18 501.95 Gift certificates and credit memos.—
19 (1) As used in this section, the term:
20 (b) “Gift certificate” means a certificate, gift card,
21 stored value card, reward card, consumer loyalty card,
22 promotional gift card, or similar instrument purchased for
23 monetary consideration when the certificate, card, or similar
24 instrument is redeemable for merchandise, food, or services
25 regardless of whether any cash may be paid to the owner of the
26 certificate, card, or instrument as part of the redemption
27 transaction, but this term does shall not include tickets as
28 specified in s. 717.1355 or manufacturer or retailer discounts
29 and coupons.
30 (2)(a) A gift certificate purchased or credit memo issued
31 in this state may not have an expiration date, expiration
32 period, or any type of postsale charge or fee imposed on the
33 gift certificate or credit memo, including, but not limited to,
34 service charges, dormancy fees, account maintenance fees, or
35 cash-out fees. However, a gift certificate may have an
36 expiration date of not less than 3 years if it is provided as a
37 charitable contribution, or not less than 1 year if it is
38 provided as a benefit pursuant to an employee-incentive program,
39 and the expiration date is prominently disclosed in writing to
40 the consumer at the time it is provided. In addition, a gift
41 certificate may have an expiration date if it is provided to the
42 recipient, or to a purchaser for transfer to the recipient, as
43 part of a loyalty or promotional program when the recipient does
44 not pay a separate identifiable charge for the certificate, or
45 if it is provided in conjunction with a convention, conference,
46 vacation, or sporting or fine arts event having a limited
47 duration so long as the majority of the value paid by the
48 recipient is attributable to the convention, conference,
49 vacation, or event. An issuer may honor a gift certificate that
50 has expired on or before the effective date of this act.
51 Section 2. For the purpose of incorporating the amendment
52 made by this act to section 501.95, Florida Statutes, in a
53 reference thereto, paragraph (i) of subsection (1) of section
54 538.03, Florida Statutes, is reenacted to read:
55 538.03 Definitions; applicability.—
56 (1) As used in this part, the term:
57 (i) “Secondhand goods” means personal property previously
58 owned or used which is not regulated metals property regulated
59 under part II and which is purchased, consigned, or traded as
60 used property. The term includes gift certificates and credit
61 memos as defined in s. 501.95 which are purchased, consigned, or
62 traded by a secondhand dealer. The term does not include office
63 furniture; pianos; books; clothing; organs; coins; motor
64 vehicles; costume jewelry; gold, silver, platinum, palladium, or
65 rhodium bullion that has been assayed and is properly marked as
66 to its weight and fineness; cardio and strength training or
67 conditioning equipment designed primarily for indoor use; and
68 secondhand sports equipment that is not permanently labeled with
69 a serial number. As used in this paragraph, the term “secondhand
70 sports equipment” does not include golf clubs.
71 Section 3. For the purpose of incorporating the amendment
72 made by this act to section 501.95, Florida Statutes, in a
73 reference thereto, section 717.1045, Florida Statutes, is
74 reenacted to read:
75 717.1045 Gift certificates and similar credit items.
76 Notwithstanding s. 717.117, an unredeemed gift certificate or
77 credit memo as defined in s. 501.95 is not required to be
78 reported as unclaimed property.
79 (1) The consideration paid for an unredeemed gift
80 certificate or credit memo is the property of the issuer of the
81 unredeemed gift certificate or credit memo.
82 (2) An unredeemed gift certificate or credit memo is
83 subject only to any rights of a purchaser or owner thereof and
84 is not subject to a claim made by any state acting on behalf of
85 a purchaser or owner.
86 (3) It is the intent of the Legislature that this section
87 apply to the custodial holding of unredeemed gift certificates
88 and credit memos.
89 (4) However, a gift certificate or credit memo described in
90 s. 501.95(2)(b) shall be reported as unclaimed property. The
91 consideration paid for such a gift certificate or credit memo is
92 the property of the owner of the gift certificate or credit
93 memo.
94 Section 4. This act shall take effect July 1, 2026.