Upgrades, and in some circumstances provides for extended terms of imprisonment for, certain retail theft crimes, addresses gift card fraud, and authorizes new Attorney General initiatives to address organized retail theft.*

This bill increases penalties for retail theft offenses based on the value of stolen goods, with shoplifting over $500 becoming a third-degree crime. It creates a new offense for "fostering the sale of stolen property" (including online sales) and upgrades penalties for "leader of organized retail theft enterprise" to a first-degree crime. The bill establishes a retail theft unit within the Attorney General's office to investigate and prosecute organized retail theft, and includes new requirements for gift card retailers to prevent fraud through packaging standards and third-party reseller record-keeping. It also creates extended prison terms for repeat retail theft offenders and increases penalties for tax evasion related to retail theft.