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SB 22 (Laird) requires businesses to make their physical and electronic gift cards/certificates with a value of less than $15 redeemable for their equivalent cash amount. Please be sure to update your written policies and terms, inform employees regarding these updated requirements, and update any point-of-sale system limitations to ensure compliance.
CRA negotiated the cash-out value down from $25, eliminated compliance traps, and POS posting requirements.
If you have questions, consult your attorney, accountant, other appropriate professional, or review CRA’s updated Industry Insight in the Compliance Library. CRA members receive one legal consultation (not to exceed 15 minutes) each month through the Legal Center.
