Topic:
RETAIL TRADE;
Location:
RETAIL TRADE;

OLR Research Report


February 20, 2008

 

2008-R-0161

REMAINDERS OF VALUE ON GIFT CARDS

By: Daniel Duffy, Principal Analyst

You asked if any state has a law concerning small remainders of value left on gift cards after most of their value has been spent.

We identified four states with relevant laws. All require retailers to give cash back in a gift card transaction if the balance on the card is below a specified amount. Table 1 displays the states and the amount.

Table 1: States with “Cash-Back” Laws

State

Amount

California (Cal. Civ. Code 1749.5)

$10

Montana (Mont. Code 30-14-108)

5

Vermont (8 V.S.A. 2704)

1

Washington (RCW 19.240.020)

5

DD:ts