House
File
2296
S-5065
Amend
House
File
2296,
as
passed
by
the
House,
as
1
follows:
2
1.
By
striking
everything
after
the
enacting
clause
3
and
inserting:
4
<
Section
1.
Section
556.9,
Code
2014,
is
amended
to
5
read
as
follows:
6
556.9
Miscellaneous
personal
property
held
for
7
another
person
——
wages
——
gift
certificates.
8
1.
a.
All
intangible
personal
property,
not
9
otherwise
covered
by
this
chapter
,
including
any
income
10
or
increment
earned
on
the
property
and
deducting
any
11
lawful
charges,
that
is
held
or
owing
in
this
state
in
12
the
ordinary
course
of
the
holder’s
business
and
has
13
remained
unclaimed
by
the
owner
for
more
than
three
14
years
after
it
became
payable
or
distributable
is
15
presumed
abandoned.
However,
unpaid
16
b.
Unpaid
wages,
including
wages
represented
by
17
payroll
checks
or
other
compensation
for
personal
18
services
owing
in
the
ordinary
course
of
the
holder’s
19
business
that
remain
unclaimed
by
the
owner
for
more
20
than
one
year
after
becoming
payable
are
presumed
21
abandoned.
22
c.
Except
as
provided
in
subsection
2,
funds
23
represented
by
a
gift
certificate
balance
that
has
24
not
been
presented
within
five
years
from
the
date
25
of
issuance
of
the
gift
certificate
are
presumed
26
abandoned.
27
2.
a.
An
issuer
of
a
gift
certificate
shall
not
28
deduct
from
the
face
value
of
the
gift
certificate
any
29
charge
imposed
due
to
the
failure
of
the
owner
of
the
30
gift
certificate
to
present
the
gift
certificate
in
a
31
timely
manner,
unless
a
valid
and
enforceable
written
32
contract
exists
between
the
issuer
and
the
owner
of
the
33
gift
certificate
pursuant
to
which
the
issuer
regularly
34
imposes
such
charges
and
does
not
regularly
reverse
or
35
otherwise
cancel
them.
36
b.
Notwithstanding
the
time
limitation
in
37
subsection
1,
a
gift
certificate
redeemable
for
38
merchandise
only
that
is
not
subject
to
an
expiration
39
date
and
that
is
not
subject
to
a
deduction
from
40
the
face
value
of
the
gift
certificate
for
failure
41
of
the
owner
of
the
gift
certificate
to
present
the
42
gift
certificate
in
a
timely
manner,
or
subject
to
43
any
other
charge
or
service
fee,
which
card
remains
44
unpresented,
shall
continue
in
force
and
be
eligible
45
for
presentation
for
an
indefinite
period
of
time,
and
46
shall
not
be
subject
to
a
presumption
of
abandonment.
47
c.
For
purposes
of
this
subsection
section
,
48
“gift
certificate”
means
a
merchandise
certificate
or
49
electronic
gift
card
conspicuously
designated
as
a
gift
50
-1-
HF2296.3327
(2)
85
rn/sc
1/
2
#1.
certificate
or
electronic
gift
card,
and
generally
1
purchased
by
a
buyer
for
use
by
a
person
other
than
the
2
buyer.
3
Sec.
___.
APPLICABILITY.
Section
556.9,
subsection
4
2,
paragraph
b,
as
enacted
in
this
Act,
applies
to
gift
5
certificates
redeemable
for
merchandise
only
that
are
6
sold
after
July
1,
2014.
>
7
2.
Title
page,
line
2,
after
<
certificates
>
by
8
inserting
<
,
and
providing
applicability
provisions
>
9
______________________________
COMMITTEE
ON
COMMERCE
MATT
McCOY,
CHAIRPERSON
-2-
HF2296.3327
(2)
85
rn/sc
2/
2
#2.