SB302

Senate Bill 302 creates the new criminal offense of 'gift card fraud' within the Arkansas Code. The bill defines gift cards, card issuers, and card holders to provide clarity for the enforcement of the statute. It establishes that a person commits this offense if they acquire, retain, or use gift cards or redemption information with the intent to defraud or deprive an owner of property. Penalties are tiered based on the monetary value of the fraud or the aggregate value over a 120-day period, ranging from a Class A misdemeanor for amounts under $1,000 to a Class B felony for amounts of $25,000 or more. The bill also includes an emergency clause, allowing it to take effect immediately upon becoming law to address the perceived urgency of this form of theft.