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TRENTON – Legislation sponsored by Senators Joseph Coniglio, Joseph Vitale and Nia Gill that would require retailers offering gift cards to disclose expiration dates and other conditions on those gift cards at time of purchase and restrict the fees that retailers can charge to gift card holders that carry a balance on the card passed the Senate Commerce Committee today.

“I think that when anyone buys or receives a gift card, they expect that it will be treated the same as cash at the store we purchase it from,” said Senator Coniglio, D-Bergen. “Unfortunately, some retailers have come to use expiration dates and hidden dormancy fees to reduce the value of these cards and increase their profit margins. Before buying a gift card, consumers deserve to know the terms and conditions of that card so they know exactly what they are buying.”

TRENTON – A bill sponsored by Senators Joseph F. Vitale and Nia H. Gill which would enact a number of protections for gift card consumers, including a provision requiring that gift cards could not expire within a two-year period after purchase, was approved by the Senate Commerce Committee today.

“Many people save a gift card for a rainy day, but with little in the way of regulation, they may be surprised at the register to find that their gift card is either no longer valid, or has been severely diminished in value,” said Senator Vitale, D-Middlesex. “Businesses should not be allowed to take advantage of their customers’ delay in redeeming gift cards, especially when such a delay may be no fault of the redeemer in the first place. Reasonable regulation is more than fair, and will put New Jersey at the forefront of consumer protection in regards to gift cards.”