Debbie Benefield

Gov. Ritter signs Consumer Protection Bills

April 29, 2010  GOV. RITTER SIGNS BENEFIELD'S and PRIMAVERA'S CONSUMER PROTECTION BILLS Gov. Bill Ritter signed several consumer protection bills today, including measures to secure neighborhoods against abandoned properties that have fallen into foreclosure and a plan to protect the long-term value of gift cards.   House Bill 1249, sponsored by Reps. Dianne Primavera (D-Broomfield) and Jeanne Labuda and Sen. Mike Johnston, will speed the sale of foreclosed properties by reducing the number of days for a sale.   “Abandoned homes can quickly turn a family-friendly neighborhood into a safety hazard for children, a magnet for crime, and a drain on the property values of nearby homes,” said Gov. Ritter. “HB 1249 will cut in half the time it takes to sell an abandoned home in foreclosure.”   “It is the American Dream to own a home, and for most Coloradans, their greatest asset is their home,” said Rep. Primavera. “This bill ensures that abandoned properties do not negatively impact the home values and resale prices for the rest of the neighborhood.”   Gov. Ritter also signed Senate Bill 155, sponsored by Sen. Lois Tochtrop and Rep. Debbie Benefield (D-Jefferson County), which will put requirements on gift card issuers to protect consumers. It bans retailers, restaurants and others from selling gift cards that have any type of service or maintenance fee. Additionally, gift card issuers must redeem the card, upon request, if the remaining value is $5 or less.   “Gift cards should be a gift to the person receiving them and not a gift to the retailer. After all, it’s your money," said Rep. Benefield. “This legislation is critical when it comes to protecting Colorado consumers. Gift cards are given to our loved ones with the best intentions, and it’s important we make sure they don't become the gift that keeps on taking.”   # # #