1.1                          A bill for an act
  1.2             relating to commerce; regulating the sale of gift 
  1.3             certificates; providing civil penalties; proposing new 
  1.4             coding in Minnesota Statutes, chapter 325F. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [325F.756] [SALES OF GIFT CERTIFICATES.] 
  1.7      Subdivision 1.  [RECORDKEEPING.] Any person that sells a 
  1.8   gift certificate redeemable for any product, service, or 
  1.9   merchandise sold by the person shall record the sale and keep an 
  1.10  accurate and complete record of the gift certificate for a 
  1.11  period of two years after the date of the sale.  The record 
  1.12  shall include the date of the sale, the full value of the 
  1.13  certificate, the identification number assigned by the retailer 
  1.14  to the certificate, and the state in which the sale of the 
  1.15  certificate took place. 
  1.16     Subd. 2.  [RECEIPT TO PURCHASER.] A seller of a gift 
  1.17  certificate with a value of $25 or more shall give the purchaser 
  1.18  of the certificate a written and numbered receipt evidencing the 
  1.19  sale of the certificate. 
  1.20     Subd. 3.  [EXPIRATION DATES PROHIBITED.] No person that 
  1.21  sells a gift certificate shall limit the time for the redemption 
  1.22  of the certificate or place an expiration date on the 
  1.23  certificate. 
  1.24     Subd. 4.  [PENALTY.] A person who is found guilty of 
  1.25  violating this section is subject to a fine not to exceed $200.