Gift certificates.

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. For purposes of these provisions, existing law defines "gift certificate" to include gift cards. This bill would, instead, make a gift certificate with a cash value of less than $15 redeemable in cash for its cash value, exempt from that redemption provision certain gift certificates that are donated to a nonprofit or a charitable organization, as provided, and make these provisions operative on April 1, 2026. The bill would expand the definition of "gift certificate" to include electronic gift cards. The bill would also make conforming changes.