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Friday, December 21, 2007

Del. Pena-Melnyk will reintroduce bill to confiscate the value of old gift cards

(Posted 21 Dec 2007)
The state of gift cards.
Annapolis Capital, 21 Dec 2007.
This Christmas that gift card you get for someone could later could be a sign of your civic duty.

Del. Joseline Pena-Melnyk plans to introduce a bill in January that would allow the government to take unused balances on gift cards four years after a card is issued or one year after it is last used, whichever is later. The money would be placed into an education fund for public schools.

The bill would make retailers act like banks or electric companies that have to turn over unclaimed property to the state, Ms. Pena-Melnyk, D-College Park, said in a news release. Maryland leaves about $100 million every year on the table, she said.

So this year, don't ask what a gift card can do for you (or a relative you don't know very well); ask what a gift card can do for your state.

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