LANSING –State Representative Mark Meadows (D-East Lansing) on Thursday announced legislation that will prevent depreciation and expiration of gift cards.
"When our citizens buy a gift card for $50, it should be worth $50 no matter when it's spent," Meadows said. "This legislation will stop stores from capitalizing on empty promises. Gift cards should be used for their entire value and there shouldn't be a time limit. Stores should not be making an unfair profit on gift cards at the expense of consumers."
Meadows' legislation will prohibit value depreciation, additional fees, and expiration dates on gift cards. The bill, however, does allow for expiration dates on promotional gift cards.
"Currently, there is no uniform policy," Meadows said. "Expiration dates vary from store to store, and that's wrong. When our citizens purchase a gift, they should get their money's worth and that's what this bill will ensure."