Enacts the New York gift certificate scam prevention act

Added a new definition for 'promotional gift certificates' to explicitly cover cards issued for free with expiration dates, ensuring they are covered by the scam prevention act.

Updated packaging requirements to focus on concealing visible numbers like card numbers and CVVs, replacing the old requirement for secure sealed packaging with technology that prevents activation if tampered with.

Expanded employee training requirements to include all gift certificates and removed the specific distinction between 'open loop' and 'closed loop' certificates.

Added new record-keeping requirements for third-party resellers to include the specific amount issued, prices paid, and the consumer's signature.

Added specific rules requiring reseller records to be kept chronologically, allowing only legible handwritten corrections, and mandating inspection by law enforcement.

Changed the bill number from S 704 to S 704-A to reflect that it has been amended and reported favorably by the committee.