NJ lawmakers may scrap troubled gift card law

A legislative panel is expected on Thursday to consider legislation reversing a 2010 law that allowed the state to claim the value of dormant gift cards as revenue.

The Senate Budget Committee will vote on whether to remove gift cards from the state’s unclaimed property law. The bill also would prohibit retailers from charging dormancy fees on idle cards or imposing expiration dates on their use, two consumer protection features the industry supports, according to... Read more »