Assembly BillIntroduced
A 5865: Relates to cash out requirements for certain prepaid gift cards.
What A 5865 does, verified January 8, 2026
The proposed law aims to protect consumers by requiring prepaid debit card issuers to offer cash-out options for certain types of prepaid cards. Currently, gift certificates with a remaining value of less than $10 can be redeemed for cash upon request. The proposed law would expand this requirement to include all prepaid debit cards, regardless of their type or purpose.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: referred to consumer affairs and protection (2026-01-07)Alert me
Quick answers about A 5865
- What is the current status of A 5865?
- As of January 8, 2026, A 5865 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "referred to consumer affairs and protection".
- Did A 5865 pass?
- Not yet. A 5865 has been introduced and has not passed either house.
- Who wrote A 5865, and where is it now?
- A 5865 was authored by Asm. Phil Steck. Its committee of record is Assembly Consumer Affairs & Protection.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | referred to consumer affairs and protection |
| Feb. 24, 2025 | referred to consumer affairs and protection |
Latest bill textIntroduced version, February 24, 2025 · 174 words
STATE OF NEW YORK ________________________________________________________________________ 5865 2025-2026 Regular Sessions IN ASSEMBLY February 24, 2025 ___________ Introduced by M. of A. STECK -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to cash out requirements for prepaid debit cards The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 5-b of section 396-i of the general business 2 law, as added by chapter 668 of the laws of 2021, is amended to read as 3 follows: 4 5-b. A gift certificate, other than [an open loop gift certificate or] 5 a promotional gift certificate, with a remaining value of less than 6 [five] ten dollars may be redeemed upon request for its cash value. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09659-02-5
Text of A 5865 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions