Bill limits retailer's gift card power
6:20 p.m. Tuesday, March 21, 2006
Today, a bill advanced in the Senate that would limit gift cards from losing its value or expiring.
The measure would not allow merchants to subtract fees from the gift card amount for one year after its purchase.
And expiration dates would have to be at least five years after the gift card or certificate is issued.
“We had some stories and I didn't know this happened that over months they can devalue that gift card as a fee for handing that gift card. This bill would not allow that practice to happen,” said Sen. Nick Jordan.
Several Topeka retailers said they're not concerned with the change because they've already made the switch to gift card systems that never expire or diminish in value.
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