CT HB05564

Defines "gift card" as a prepaid record evidencing a seller's promise to provide goods or services to the stated value, including microchip cards, magnetic stripe cards, electronic gift cards, and stored-value cards.

Excludes from the definition general-use prepaid cards, charitable donations, loyalty program cards, cards sold below face value, cards from retailers without Connecticut locations, and paper-only gift certificates.

Requires sellers or issuers to provide purchasers with either an electronic or paper copy of a proof of purchase receipt or gift receipt at the time of purchase.

Mandates that merchants provide a cash refund for remaining gift card balances of less than $3 upon request after a purchase, provided the purchaser presents proof of purchase or a gift receipt.

Effective October 1, 2016.