MI HB4193

Expands the definition of "gift certificate" to include prepaid discount cards or programs used to purchase identified goods or services at below-normal prices.

Requires retailers to accept gift certificates for payment on sale items, clearance goods, and during liquidation or closeout sales, except after expiration dates that comply with section 3g.

Mandates clear disclosure of all gift certificate terms and conditions to prospective purchasers through mail offers, electronic communications, printed packaging, or separate documents with toll-free access numbers.

Prohibits retailers from refusing to apply partial gift certificate balances to purchases if the remaining value is less than the purchase price of goods or services.

Exempts certain prepaid cards from gift certificate regulations, including general-use prepaid cards issued by financial institutions, payroll cards, medical expense accounts, and airline credit vouchers.