AK HB64

Amends Alaska unclaimed property law to change terminology from "gift certificates" to "gift cards" throughout the statute and defines the abandoned property amount as the balance remaining on the card rather than the price paid.

Establishes new requirements for gift cards sold in Alaska, including redemption at full face value in perpetuity and clear identification of the issuance date on the card or receipt.

Prohibits the sale of gift cards that impose dormancy fees, latency fees, administrative fees, periodic fees, service fees, or other fees that reduce the redemption value.

Provides exemptions for gift cards distributed through awards or loyalty programs, donated to nonprofits, issued by financial institutions for multi-vendor use, and multi-seller gift cards.

Designates violations of gift card requirements as unlawful trade practices subject to enforcement under Alaska consumer protection law.