SF 266 — A bill for an act relating to theft, forgery, and fraud involving a gift card, and providing penalties. Effective date: 07/01/2025.

SSenate TFile A266 T- EEnrolled OSenate FFile I266 OAN WACT ARELATING KTO ITHEFT, MFORGERY, RAND EFRAUD YINVOLVING NA OGIFT LCARD, DAND SPROVIDING GPENALTIES. O V E R N O R ApriI18,2025 The HonorablePaulPate SecretaryofStateofIowa StateCapitol Des Moines,Iowa50319 DearMr.Secretary, Iherebytransmit:

SenateFile266,anActrelatingtotheft,forgery,andfraudinvolvingagiftcard,andBE providingpenalties.IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

TheaboveSenateFileisherebyapprovedonthisdate.

incerely, molfc Governor oflo cc:

SecretaryoftheSenate Clerk ofthe House STATE CAPITOL DES MOINES,IOWA 50319 515.281.5211 FAX 515.725.3527WWW.GOVERNOR.IOWA.GOV EaiLwe^SsBwoMT WILL MAINTAI G E N E R A L A S S E M B E \ inininHMnnMHiHHimwHHinmHHHnninnnmiiimiiiHnmH?;!!H]!}iiiiHiiimiimiimHni»;i!!i!i»iJiiHiiiiiiiiitSi;i!!iiiiH»iHHimiiitiiW!i!iiimiiimitiHmnmiHl S e n a t e F2 6 6e A NA C T RELATING TO THEFT, FORGERY, AND FRAUD INVOLVING A GIFT CARD, AND P R O V I DP E N A L T I E S .

B EI TE N A C TB YT H G E N E RA S S E MO FLT H S T A O F I O W A :

^Cardholder'^“Cardholder” means any person in possession of a physical or digital gift card issued through a purchase by the person, or received by the person from a willing party.

'^Card“Card issuer"issuer” means any person that issues a gift card or the agent of a gift card issuer.

"^Gift“Gift card"card” means a physical or digital card, code, or device that is issued to a consumer on a prepaid basis primarily for personal, family, or household purposes in a specified amount, regardless of whether that amount may be increased or reloaded in exchange for payment, and is redeemable upon presentation by a consumer either at a single merchant, a group of affiliated merchants, or at multiple unaffiliated merchants for goods or services within the payment ccard anetwork. rn e t w o r k .

'''Gift“Gift card redemption information"information” means information unique to each gift card that allows the cardholder to access, transfer, or spend the funds on that gift card.

'"Gift“Gift card seller"seller” means a merchant that is engaged in the business of selling gift cards to consumers.

'^Value^“Value” means the greatest amount of economic loss the owner of the property might reasonably suffer including, in the case of a gift card, the full monetary face value or potential value for variable-load gift cards.

Any person who, with intent to defraud, alters or tampers with a gift card commits forgery and is guilty of an aggravated mmisdemeanor. i s d e m e a n o r .

(1) A class “C” felony if the amount of money or value of property or services involved exceeds five thousand dollars.

(2) A class ""d"“D” felony if the amount of money or value of property or services involved exceeds one thousand dollars but does not exceed five thousand dollars.

(1) A class “C” felony if the value of the property stolen eexceeds xfive c e e d s thousand ddollars. o l l a r s .

(2) A class "d"“D” felony if the value of the property stolen is more than one thousand dollars but not more than five tthousand hdollars. o u sd o l l a r s .

(3) An aggravated misdemeanor if the value of the property Senate PileFile 266, p.

3 sstolen tis omore lthan efive nhundred idollars sbut mnot omore rthan eone tthousand hdollars. a n f i v e h u n d r e d d o l l a r s b u t n o t m o r e t h a n o n e t h o u s a n d d o l l a r s .

(4) A serious misdemeanor if the value of the property sstolen tis ofive lhundred edollars n i s f i v e h u n d r e d d o l l a r s or lless. e s s .

The value of the retail merchandise received by the person in violation of this section within any six-month period may be aggregated and the defendant charged accordingly in applying the provisions of this section..section.

AMY______________________________ SIN^yAIR______________________________ PAMY ASINCLAIR TPAT /GRASSLEY GPresident Rof A S S L E Y P r e s i d e n t o f the SSenate e n a t e Speaker of Hthe oHouse u s e I hereby certify that this bill originated in the Senate and is known as Senate File 266, Ninety-first General Assembly.

W______________________________ .W.

CCHARLES HSMITHSON ASecretary Rof Lthe E S S M I T H S O N Secretliry Senate Approved 2_______________, 02025 2______________________________ 5KIM :mREYNOLDS R^NOLDSGovernor G o v e r n o r