GO
Loading...

New Jersey Wants to Seize Your Unused Gift Cards

AP
Monday, 3 Jan 2011 | 8:54 AM ET

New Jersey isn't giving up its effort to seize unused money on gift cards and traveler's checks.

Photo by: LitAndMore

Lawmakers voted last year to allow the seizure of cards after two to three years as a way to raise about $80 million and help balance the state's budget.

But in November, a federal judge temporarily struck down the law.

The Record of Bergen County reports the state isn't giving up though. State treasurer Andrew Sidamon-Eristoff has told a judge that the state will appeal the earlier ruling.

New Jersey Retail Merchants Association, the New Jersey Food Council and American Express filed suits to block the law.

  Price   Change %Change
ALXN
---