I 

111TH CONGRESS 

2D SESSION H. R. 5127 

To amend title 31, United States Code, to establish a reporting requirement 

for any stored value device carried out of, into, or through the United 

States, to establish registration requirements for stored value programs, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 22, 2010 

Ms. GIFFORDS (for herself and Mr. BILBRAY) introduced the following bill; 

which was referred to the Committee on Financial Services 

A BILL 

To amend title 31, United States Code, to establish a reporting requirement for any stored value device carried out 

of, into, or through the United States, to establish registration requirements for stored value programs, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Stored Value Device 

5 Registration and Reporting Act of 2010’’. 


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1 SEC. 2. DEFINITIONS. 

2 (a) DEFINITION OF FINANCIAL INSTITUTION.—Para3 graph (2) of section 5312(a) of title 31, United States 

4 Code is amended— 

5 (1) by redesignating subparagraphs (Y) and (Z) 

6 as subparagraphs (Z) and (AA), respectively; and 

7 (2) by inserting after subparagraph (X) the fol8 lowing new subparagraph: 

9 ‘‘(Y) a person engaged in the business of 

10 providing stored value services, including a 

11 stored value system operator, an issuer of 

12 stored value, a seller of stored value, and a re13 deemer of stored value;’’. 

14 (b) STORED VALUE, STORED VALUE SYSTEM OPER15 ATOR, AND DEVICE DEFINED.—Subsection (a) of section 

16 5312 of title 31, United States Code, is amended by add17 ing at the end the following new paragraphs: 

18 ‘‘(7) STORED VALUE.—The term ‘stored value’ 

19 means funds or monetary value represented in dig20 ital electronics format (whether or not specially 

21 encrypted) and stored or capable of storage on elec22 tronic media in such a way as to be retrievable and 

23 transferable electronically. 

24 ‘‘(8) STORED VALUE SYSTEM OPERATOR.— 

25 ‘‘(A) IN GENERAL.—The term ‘stored 

26 value system operator’ means any person doing 


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1 business in the United States that operates a 

2 system for clearing and settling transactions in 

3 which the operator’s stored value device is used 

4 to purchase goods or services or to obtain cash. 

5 To fall within this definition, the operator must 

6 also have authorized another person (whether 

7 located in the United States or not) to be an 

8 issuing institution or acquiring institution for 

9 the operator’s stored value device or must act 

10 as its own issuing institution or acquiring insti11 tution. 

12 ‘‘(B) DEFINITIONS.—For purposes of this 

13 paragraph: 

14 ‘‘(i) ISSUING INSTITUTION.—The term 

15 ‘issuing institution’ means a person au16 thorized by the stored value system oper17 ator to issue the operator’s stored value 

18 device. 

19 ‘‘(ii) ACQUIRING INSTITUTION.—The 

20 term ‘acquiring institution’ means a person 

21 authorized by the stored value system op22 erator to contract, directly or indirectly, 

23 with merchants or other persons to process 

24 transactions, including cash access transVerDate Nov 24 2008 05:00 Apr 23, 2010 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H5127.IH H5127

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1 actions, involving the operator’s stored 

2 value device. 

3 ‘‘(iii) OPERATOR’S STORED VALUE DE4 VICE.—The term ‘operator’s stored value 

5 device’ means a stored value device capable 

6 of being used in the United States that— 

7 ‘‘(I) has been issued by an 

8 issuing institution; and 

9 ‘‘(II) can be used in the opera10 tor’s stored value system. 

11 ‘‘(9) DEVICE.—The term ‘device’ means any 

12 card, plate, code, account number, electronic serial 

13 number, mobile identification number, personal iden14 tification number, or other telecommunications serv15 ice, equipment, or instrument identifier, or other 

16 means of account access that can be used, alone or 

17 in conjunction with another access device, to obtain 

18 money, goods, services, or any other thing of value, 

19 or that can be used to initiate a transfer of funds 

20 or of stored value (other than a transfer originated 

21 solely by paper instrument), but a stored value de22 vice does not include a credit card or a debit card, 

23 as such terms are defined by the Secretary of the 

24 Treasury. 


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1 ‘‘(10) REPORTABLE STORED VALUE DEVICE.— 

2 The term ‘reportable stored value device’ means a 

3 stored value device for which— 

4 ‘‘(A) the associated stored value account is 

5 reloadable by the device holder; 

6 ‘‘(B) the device does not comply with min7 imum stored value device standards prescribed 

8 by the Secretary of the Treasury; 

9 ‘‘(C) the device does not bear the name of 

10 the person transporting or possessing the de11 vice; or 

12 ‘‘(D) the device is designated as reportable 

13 by the Secretary of the Treasury.’’. 

14 SEC. 3. REGISTRATION OF STORED VALUE PROGRAMS. 

15 (a) IN GENERAL.—Subchapter II of chapter 53 of 

16 title 31, United States Code, is amended by inserting after 

17 section 5330 the following new section: 

18 ‘‘§ 5330A. Registration of stored value programs 

19 ‘‘(a) REGISTRATION WITH SECRETARY OF THE

20 TREASURY REQUIRED.— 

21 ‘‘(1) IN GENERAL.—Any stored value system 

22 operator shall register each stored value program 

23 that such person authorizes to function on such 

24 stored value system with the Secretary of the TreasVerDate Nov 24 2008 05:00 Apr 23, 2010 Jkt 089200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H5127.IH H5127

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1 ury not later than the end of the 180-day period be2 ginning on the later of— 

3 ‘‘(A) the date of the enactment of the 

4 Stored Value Device Registration and Report5 ing Act of 2010; or 

6 ‘‘(B) the end of the 30-day period that be7 gins on the date on which the first stored value 

8 transaction in the stored value program is proc9 essed. 

10 ‘‘(2) FORM AND MANNER OF REGISTRATION.— 

11 Subject to the requirements of subsection (b), the 

12 Secretary of the Treasury shall prescribe, by regula13 tion, the form and manner for registering a stored 

14 value program pursuant to paragraph (1). 

15 ‘‘(3) PERSONS REMAIN SUBJECT TO STATE

16 LAW.—This section shall not be construed as super17 seding any requirement of State law relating to per18 sons operating stored value systems or persons en19 gaged in stored value programs within the jurisdic20 tion of such State. 

21 ‘‘(4) FALSE AND INCOMPLETE INFORMATION.— 

22 The filing of false or materially incomplete informa23 tion in connection with the registration of a stored 

24 value program shall be considered as a failure to 

25 comply with the requirements of this subchapter. 


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1 ‘‘(b) CONTENTS OF REGISTRATION.—The registra2 tion of a stored value program under subsection (a) shall 

3 include the following information: 

4 ‘‘(1) The name and location of the operator of 

5 the stored value system. 

6 ‘‘(2) The name and address of each person 

7 who— 

8 ‘‘(A) issues the stored value associated 

9 with the stored value program; 

10 ‘‘(B) issues a stored value device associ11 ated with the stored value program; or 

12 ‘‘(C) provides stored value processing serv13 ices to the issuer of the stored value or to the 

14 issuer of the stored value device, or to a person 

15 acting in a capacity similar to such issuer. 

16 ‘‘(3) The name and address of any depository 

17 institution at which the stored value program main18 tains a transaction account (as defined in section 

19 19(b)(1)(C) of the Federal Reserve Act). 

20 ‘‘(4) The name and address of the bank, foreign 

21 or domestic, in which the primary transaction ac22 count for the funds representing the stored value 

23 sold is held, the bank routing number, and the bank 

24 account number. 


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1 ‘‘(5) The bank identification number or other 

2 system identifier of the stored value devices for the 

3 stored value program. 

4 ‘‘(6) A description of the features included in 

5 the group of services offered to stored value account 

6 holders in the stored value program, either provided 

7 directly through the stored value system or other8 wise, including— 

9 ‘‘(A) the maximum amount of value that 

10 may be held in a stored value account at any 

11 time (maximum total load amount); 

12 ‘‘(B) the maximum amount of funds that 

13 may be loaded to the stored value account per 

14 load transaction; 

15 ‘‘(C) the maximum amount of funds that 

16 may be loaded to a stored value account per 

17 day; 

18 ‘‘(D) the maximum amount of funds that 

19 may be loaded to a stored value account per 

20 day through one or more load purchases in cur21 rency; 

22 ‘‘(E) the maximum amount of stored value 

23 that may be loaded through an automated 

24 clearinghouse transaction; 


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1 ‘‘(F) the maximum amount that may be 

2 loaded through a Fedwire (the realtime gross 

3 settlement system operated by the Board of 

4 Governors of the Federal Reserve System) 

5 transaction; 

6 ‘‘(G) the maximum amount of stored value 

7 that may be redeemed in currency through an 

8 over-the-counter transaction by a system mem9 ber; 

10 ‘‘(H) the maximum amount of stored value 

11 that may be redeemed in currency through an 

12 automated teller machine or other mechanical 

13 means per transaction; 

14 ‘‘(I) the maximum amount of stored value 

15 that may be redeemed in currency through an 

16 automated teller machine or other mechanical 

17 means per day; 

18 ‘‘(J) the maximum amount of value that 

19 may be spent though one or more automated 

20 clearinghouse transactions per day; and 

21 ‘‘(K) the maximum amount of value that 

22 may be spent through Fedwire transactions per 

23 day. 

24 ‘‘(7) A description of the measures in effect 

25 under the program to assure that— 


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1 ‘‘(A) the identity of the owner of the 

2 stored value is accurate; 

3 ‘‘(B) the person using the device is the 

4 person entitled to do so; 

5 ‘‘(C) stored value account holders are in6 formed that participation in a stored value pro7 gram constitutes waiver of objection to law en8 forcement access to the present amount of 

9 stored value accessible through a stored value 

10 device; and 

11 ‘‘(D) the amount of value available 

12 through the device at the time of the inquiry is 

13 accessible to law enforcement. 

14 ‘‘(8) Such other information as the Secretary of 

15 the Treasury may require. 

16 ‘‘(c) ELIGIBILITY FOR REGISTRATION.—No stored 

17 value program is eligible for registration unless the stored 

18 value devices associated with that program clearly and 

19 visibly state on the device, to the extent the device is a 

20 physical device, and to the extent prescribed by the Sec21 retary of the Treasury— 

22 ‘‘(1) that the device is a stored value device; 

23 ‘‘(2) the name, address, and telephone number 

24 of the issuer of the stored value associated with the 

25 device for use by law enforcement; 


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1 ‘‘(3) the maximum amount of value that may 

2 be held in a stored value account associated with the 

3 device at any time (maximum value); 

4 ‘‘(4) the bank identification number of the 

5 stored value program that is associated with the de6 vice, if any; and 

7 ‘‘(5) a clear and concise descriptive label of the 

8 type of stored value program through which the de9 vice is issued. 

10 ‘‘(d) STORED VALUE PROGRAM DEFINED.—For pur11 poses of this section, the term ‘stored value program’ 

12 means any one or more stored value devices with the same 

13 device functionality authorized by a stored value system 

14 operator to be issued by an issuing institution in which 

15 each device in the program is identified by the same bank 

16 identification number or other identifier that relates the 

17 stored value device to the issuing institution. 

18 ‘‘(e) CIVIL PENALTY FOR FAILURE TO COMPLY

19 WITH REGISTRATION REQUIREMENTS.— 

20 ‘‘(1) IN GENERAL.—Any person who fails to 

21 comply with any requirement of this section or any 

22 regulation prescribed under this section shall be lia23 ble to the United States for a civil penalty of $5,000 

24 for each such violation. 


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1 ‘‘(2) CONTINUING VIOLATION.—Each day a vio2 lation described in paragraph (1) continues shall 

3 constitute a separate violation for purposes of such 

4 paragraph. 

5 ‘‘(3) ASSESSMENTS.—Any penalty imposed 

6 under this subsection shall be assessed and collected 

7 by the Secretary of the Treasury in the manner pro8 vided in section 5321 and any such assessment shall 

9 be subject to the provisions of such section. 

10 ‘‘(f) FORFEITURE.— 

11 ‘‘(1) IN GENERAL.—Any— 

12 ‘‘(A) stored value device issued in connec13 tion with a stored value program that fails to 

14 comply with any requirement of this section or 

15 any regulation prescribed under this section, 

16 ‘‘(B) stored value issued in connection with 

17 a stored value program that fails to comply 

18 with any requirement of this section or any reg19 ulation prescribed under this section, or 

20 ‘‘(C) physical stored value device that does 

21 not comply with the physical characteristics re22 quired for registration under this section, 

23 may be seized and forfeited to the United States. 

24 ‘‘(2) PROCEDURE.—The seizure and forfeiture 

25 shall be governed by the procedures governing civil 


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1 forfeitures in money laundering cases pursuant to 

2 section 981(a)(1)(A) of title 18, United States Code. 

3 ‘‘(3) TREATMENT OF CERTAIN PROPERTY AS

4 INVOLVED IN THE OFFENSE.—For purposes of this 

5 subsection, any stored value device, and any other 

6 property used, or intended to be used to facilitate 

7 the offense (including the funds or value of funds 

8 accessible by the stored value device at the time of 

9 the offense), shall be considered property involved in 

10 the offense. 

11 ‘‘(g) SMALL BUSINESS AND LOW-RISK EXEMP12 TION.—The Secretary of the Treasury shall prescribe reg13 ulations establishing, on the basis of such criteria as the 

14 Secretary determines to be appropriate, a threshold point 

15 under which small- and low-risk stored value programs 

16 will not be required to register under this section.’’. 

17 (b) CLERICAL AMENDMENT.—The table of sections 

18 for chapter 53 of title 31, United States Code, is amended 

19 by inserting after the item relating to section 5330 the 

20 following new item: 

‘‘5330A. Registration of stored value programs.’’. 


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1 SEC. 4. AMENDMENTS RELATING TO REPORTS ON EXPORTS 

2 AND IMPORTS OF MONETARY INSTRUMENTS, 

3 STORED VALUE, AND STORED VALUE DE4 VICES. 

5 (a) REQUIREMENT OF REPORTS ON EXPORTS AND

6 IMPORTS OF STORED VALUE AND STORED VALUE DE7 VICES.—Section 5316(a) of title 31, United States Code, 

8 is amended to read as follows: 

9 ‘‘(a) Except as provided in subsection (d) of this sec10 tion, a person or an agent or bailee of the person shall 

11 file a report under subsection (b) of this section when the 

12 person, agent, or bailee knowingly— 

13 ‘‘(1) transports, is about to transport, or has 

14 transported, monetary instruments, stored value, or 

15 a combination of monetary instruments and stored 

16 value, of more than $10,000 at one time, or report17 able stored value devices at one time— 

18 ‘‘(A) from a place in the United States to 

19 or through a place outside the United States; or 

20 ‘‘(B) to a place in the United States from 

21 or through a place outside the United States; or 

22 ‘‘(2) receives monetary instruments, stored 

23 value, or a combination of monetary instruments 

24 and stored value, of more than $10,000 at one time, 

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1 ported into the United States from or through a 

2 place outside the United States.’’. 

3 (b) REPORT FILING AND CONTENT REQUIRE4 MENTS.—Subsection (b) of section 5316 of title 31, 

5 United States Code, is amended to read as follows: 

6 ‘‘(b) REPORT FILING AND CONTENT REQUIRE7 MENTS.— 

8 ‘‘(1) TIME AND PLACE OF FILING.—A report 

9 under subsection (a) shall be filed at the time and 

10 place the Secretary of the Treasury prescribes. 

11 ‘‘(2) MONETARY INSTRUMENT OR STORED

12 VALUE.—A report filed under this subsection with 

13 respect to monetary instruments or stored value 

14 shall contain the following information to the extent 

15 the Secretary of the Treasury prescribes: 

16 ‘‘(A) The legal capacity in which the per17 son filing the report is acting. 

18 ‘‘(B) The origin, destination, and route of 

19 the monetary instruments or stored value. 

20 ‘‘(C) When the monetary instruments or 

21 stored value are not legally and beneficially 

22 owned by the person transporting the instru23 ments or stored value, or if the person trans24 porting the instruments or stored value person25 ally is not going to use them, the identity of the 


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1 person that gave the instruments or stored 

2 value to the person transporting them, the iden3 tity of the person who is to receive them, or 

4 both. 

5 ‘‘(D) The amount and kind of monetary 

6 instruments or stored value transported. 

7 ‘‘(E) Such additional information as the 

8 Secretary of the Treasury may require. 

9 ‘‘(3) STORED VALUE DEVICES.—A report filed 

10 under this subsection with respect to reportable 

11 stored value devices shall contain the following infor12 mation to the extent the Secretary of the Treasury 

13 prescribes: 

14 ‘‘(A) The legal capacity in which the per15 son filing the report is acting. 

16 ‘‘(B) The origin, destination, and route of 

17 the stored value devices. 

18 ‘‘(C) When the stored value devices are not 

19 legally and beneficially owned by the person 

20 transporting the stored value devices, or if the 

21 person transporting the stored value devices 

22 personally is not going to use the stored value 

23 devices, the identity of the person that gave the 

24 stored value devices to the person transporting 


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1 them, the identity of the person who is to re2 ceive them, or both. 

3 ‘‘(D) The maximum value of the devices 

4 transported. 

5 ‘‘(E) The amount of stored value in the 

6 stored value account associated with the devices 

7 at the time they are transported. 

8 ‘‘(F) The number and kind of stored value 

9 devices transported. 

10 ‘‘(G) Such additional information as the 

11 Secretary of the Treasury may require. 

12 ‘‘(4) MAXIMUM VALUE.—For purposes of this 

13 subsection, the ‘maximum value’ of a stored value 

14 device is the maximum monetary value that can be 

15 loaded to the stored value account that the device 

16 accesses.’’. 

17 SEC. 5. AMENDMENTS RELATING TO SEARCH AND FOR18 FEITURE OF MONETARY INSTRUMENTS AND 

19 STORED VALUE DEVICES. 

20 Section 5317 of title 31, United States Code, is 

21 amended— 

22 (1) in the heading of such section, by inserting 

23 after ‘‘instruments’’ the following: ‘‘and stored 

24 value devices’’; and 


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1 (2) by amending subsection (a) to read as fol2 lows: 

3 ‘‘(a) IN GENERAL.—The Secretary of the Treasury 

4 or the Secretary of Homeland Security may apply to a 

5 court of competent jurisdiction for a search warrant when 

6 such Secretary reasonably believes a monetary instrument, 

7 stored value, or a reportable stored value device is being 

8 transported and a report on the instrument or device 

9 under section 5316 of this title has not been filed or con10 tains a material omission or misstatement. Such Secretary 

11 shall include a statement of information in support of the 

12 warrant. On a showing of probable cause, the court may 

13 issue a search warrant for a designated person or a des14 ignated or described place or physical object. This sub15 section does not affect the authority of the Secretary of 

16 the Treasury or the Secretary of Homeland Security under 

17 another law.’’. 

18 SEC. 6. AMENDMENT OF SMUGGLING PROVISIONS. 

19 Chapter 53 of subtitle IV of title 31, United States 

20 Code, is amended by amending section 5332 to read as 

21 follows: 


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1 ‘‘SEC. 5332. SMUGGLING OF CASH, MONETARY INSTRU2 MENTS, STORED VALUE, AND STORED VALUE 

3 DEVICES INTO OR OUT OF THE UNITED 

4 STATES. 

5 ‘‘(a) CRIMINAL OFFENSE.— 

6 ‘‘(1) IN GENERAL.—Whoever, with the intent to 

7 evade a currency reporting requirement under sec8 tion 5316, knowingly conceals more than $10,000 in 

9 currency or other monetary instruments or stored 

10 value, or any physical reportable stored value device, 

11 on the person of such individual or in any convey12 ance, article of luggage, merchandise, or other con13 tainer, and transports or transfers or attempts to 

14 transport or transfer such currency, other monetary 

15 instruments, stored value, or physical reportable 

16 stored value device from a place within the United 

17 States to a place outside of the United States, or 

18 from a place outside the United States to a place 

19 within the United States, shall be guilty of a cur20 rency smuggling offense and subject to punishment 

21 pursuant to subsection (b). 

22 ‘‘(2) CONCEALMENT ON PERSON.—For pur23 poses of this section, the concealment of currency, 

24 other monetary instruments, or physical reportable 

25 stored value device on the person of any individual 

26 includes concealment in any article of clothing worn 


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1 by the individual or in any luggage, backpack, or 

2 other container worn or carried by such individual. 

3 ‘‘(b) PENALTY.— 

4 ‘‘(1) TERM OF IMPRISONMENT.—A person con5 victed of a currency smuggling offense under sub6 section (a), or a conspiracy to commit such offense, 

7 shall be imprisoned for not more than 5 years. 

8 ‘‘(2) FORFEITURE.—In addition, the court, in 

9 imposing sentence under paragraph (1), shall order 

10 that the defendant forfeit to the United States any 

11 property, real or personal, involved in the offense, 

12 and any property traceable to such property. 

13 ‘‘(3) PROCEDURE.—The seizure, restraint, and 

14 forfeiture of property under this section shall be gov15 erned by section 413 of the Controlled Substances 

16 Act. 

17 ‘‘(4) PERSONAL MONEY JUDGMENT.—If the 

18 property subject to forfeiture under paragraph (2) is 

19 unavailable, and the defendant has insufficient sub20 stitute property that may be forfeited pursuant to 

21 section 413(p) of the Controlled Substances Act, the 

22 court shall enter a personal money judgment against 

23 the defendant for the amount that would be subject 

24 to forfeiture. 

25 ‘‘(c) CIVIL FORFEITURE.— 


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1 ‘‘(1) IN GENERAL.—Any property involved in a 

2 violation of subsection (a), or a conspiracy to com3 mit such violation, and any property traceable to 

4 such violation or conspiracy, may be seized and for5 feited to the United States. 

6 ‘‘(2) PROCEDURE.—The seizure and forfeiture 

7 shall be governed by the procedures governing civil 

8 forfeitures in money laundering cases pursuant to 

9 section 981(a)(1)(A) of title 18, United States Code. 

10 ‘‘(3) TREATMENT OF CERTAIN PROPERTY AS

11 INVOLVED IN THE OFFENSE.—For purposes of this 

12 subsection and subsection (b), any currency, other 

13 monetary instrument, stored value, or physical re14 portable stored value device that is concealed or in15 tended to be concealed in violation of subsection (a) 

16 or a conspiracy to commit such violation, any article, 

17 container, or conveyance used, or intended to be 

18 used, to conceal or transport the currency, other 

19 monetary instrument, stored value, or physical re20 portable stored value device, and any other property 

21 used, or intended to be used to facilitate the offense 

22 (including the funds or value of funds accessible by 

23 the stored value device at the time of the offense), 

24 shall be considered property involved in the of25 fense.’’. 


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1 SEC. 7. STORED VALUE DEVICE STUDY. 

2 (a) IN GENERAL.—The Secretary of the Treasury, in 

3 consultation with the Attorney General, the Secretary of 

4 Homeland Security, and the Director of National Intel5 ligence, shall carry out a study on stored value devices. 

6 Such study shall include— 

7 (1) an analysis of the extent to which stored 

8 value devices are used for the purpose of pro9 viding— 

10 (A) payments related to drug trafficking; 

11 (B) payments related to human trafficking; 

12 or 

13 (C) financial support to terror cells oper14 ating within the United States; 

15 (2) an analysis of the extent to which stored 

16 value devices issued by foreign entities are being uti17 lized in the United States, including the typical 

18 countries of origin of such devices and the typical 

19 values of such devices when imported into the 

20 United States; 

21 (3) an analysis of the extent to which stored 

22 value devices issued by United States entities are 

23 being utilized outside the United States, including 

24 the typical locations where value is added to such 

25 device and where value is typically subtracted inter26 nationally; 


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1 (4) an identification of any trends in stored 

2 value addition and subtraction that appear to be as3 sociated with drug trafficking or human trafficking; 

4 (5) a list of stored value device types which are 

5 now or may soon be used for money laundering; 

6 (6) recommendations on methods to collect data 

7 related to stored value device transactions for pur8 poses of law enforcement and intelligence analysis in 

9 a manner consistent with the Foreign Intelligence 

10 Surveillance Act and privacy laws; and 

11 (7) an analysis of whether requiring certain in12 formation to be printed, or otherwise made available, 

13 on stored value devices would help customs and law 

14 enforcement officers identify such devices and track 

15 the origins of such devices, where such information 

16 could include the name and address of the device 

17 issuer, the maximum value of funds that can be 

18 stored on such device, and the fact that the device 

19 is a stored value device. 

20 (b) REPORT.—Not later than the end of the 180-day 

21 period beginning on the date of the enactment of this Act, 

22 the Secretary of the Treasury shall submit a report to the 

23 Congress containing all findings and determinations made 

24 in carrying out the study required under subsection (a). 


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1 (c) STORED VALUE DEVICE DEFINED.—For pur2 poses of this section, the term ‘‘stored value device’’ shall 

3 have the meaning given such term under section 

4 5312(a)(9) of title 31, United States Code. 

Æ 


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