Bill Signing for Gift Card Law
Earlier this month, I participated in the ceremonial bill signing for legislation I championed, An Act Concerning Cash Refunds For Gift Card Balances. Starting October 1, consumers will be able to ask for cash back on gift cards with less than a three dollar balance remaining.
When consumers are unable to redeem the full value of their gift cards, they lose money that rightfully belongs to them. Allowing people to get cash back when a gift card has less than three dollars remaining is a simple and fair solution. It helps consumers hold on to their money without placing an undue burden on businesses.
Here are some things you should know about the new law:
- You must provide proof of purchase for the gift card in order to receive cash back.
- Gift cards donated by retailers to charity are exempt.
- Gift cards can only be redeemed for cash at retailers with a storefront in Connecticut.