I just read about this:
Rep. Fred Kessler [Democrat, 12th District, Milwaukee] said Tuesday he will introduce a bill placing a one-year-from-purchase expiration date on all gift cards issued in Wisconsin, and require 80% of the cash value of unused gift cards be deposited in the state’s General Fund. Citing a Consumer Reports report that found 19% of all gift cards were not used because they were lost or had expired, Kessler said merchants will not reduce prices by 19% so “it is better to use that money to reduce the tax burden for all taxpayers in the state rather than to allow this windfall to a handful of businesses.”
This one year expiration sounds absurd to me. From my limited research in the Wisconsin State Statutes, gift cards and certificates already have this happen to them after five years. What is wrong with that?
I doubt Rep. Kessler even knows about the five year expiration, and just has too much time on his hands this holiday season. Having solved every other problem in the state, he decided to go after gift cards.