A bill for an act relating to the disposition of specified forms of gift certificates referred to as chamber bucks.
Impact
The bill modifies Section 556.9 of the Iowa Code to include chamber bucks within its definition of gift certificates. This inclusion signifies that chamber bucks are now subject to the same redemption timelines and regulatory provisions as other forms of gift certificates. By doing so, HF487 seeks to support local businesses by providing a structured framework for the use of these community-focused vouchers, promoting local economic development.
Summary
House File 487, introduced by Representative Collins, establishes guidelines for the disposition of a specific type of gift certificate known as chamber bucks. These are defined as gift certificates purchased through local chambers of commerce and can be redeemed at participating local businesses. This legislation aims to clarify the applicability of existing laws regarding gift certificates to include this specific category, thus ensuring that chamber bucks are treated similarly under state law to other gift certificates.
Contention
While the bill appears straightforward, it could arouse discussions about the broader implications on regulations surrounding gift certificates and the extent to which state laws govern local commerce practices. Stakeholders may have varying opinions on the necessity of including chamber bucks in state regulations, particularly regarding the operational flexibility of local chambers and businesses. Potential contention may arise from perspectives on whether additional state regulation provides necessary consumer protections or unnecessarily complicates local gift certificate initiatives.
A bill for an act relating to the disposition of unclaimed property held by banking or financial organizations, and gift certificates known as chamber bucks, and including retroactive applicability provisions.
A bill for an act relating to the disposition of unclaimed property held by banking or financial organizations, and gift certificates known as chamber bucks, and including retroactive applicability provisions.
A bill for an act relating to communication methods regarding the disposition of unclaimed property and including applicability provisions.(Formerly SSB 1055.)
A bill for an act relating to communication methods regarding the disposition of unclaimed property and including applicability provisions. (Formerly HSB 33.) Effective date: 07/01/2023. Applicability date: 07/01/2023.
A bill for an act relating to communication methods regarding the disposition of unclaimed property and including applicability provisions.(See HF 247.)