MD SB437

Establishes gift card valuation for theft crimes as the greatest of: the highest value listed on the card or packaging, $100 if no value is listed, or the actual loss incurred by any person from the gift card's use

Creates the new misdemeanor offense of "gift card forgery" for altering or tampering with a gift card or its packaging with intent to defraud

Penalties for gift card forgery include imprisonment up to 18 months, a fine up to $500, or both

Defines "gift card" to include both open-loop cards (usable at multiple merchants via payment networks) and closed-loop cards (redeemable at a single merchant or affiliated group), while excluding credit cards, electronic funds transfers, and paper instruments

Takes effect October 1, 2026