CO HB1102

Defines "gift card" as a prefunded tangible or electronic record representing a specific monetary value issued by a business for goods, services, credit, or money.

Includes tangible cards, electronic cards, stored-value cards, and certificates containing microprocessor chips or magnetic chips where value decrements with each use.

Excludes government-issued cards, paper gift certificates, prepaid telecommunications cards, loyalty program rewards, payroll cards, rebate cards, and cards donated or sold at volume discounts for fundraising.

Exempts unclaimed gift cards from Colorado's Unclaimed Property Act if the business association has annual gross receipts totaling $200,000 or less from gift card sales or issuance.

Applies to business associations meeting the $200,000 threshold on or after the effective date and retroactively to any unresolved state treasurer claims for unclaimed gift cards as of the effective date.