TRENTON — New Jersey isn't giving up its effort to seize unused money on gift cards and traveler's checks. Lawmakers voted last year to allow the seizure of cards after two to three years as a way to raise about $80 million and help balance the state's budget. But in November, a federal judge temporarily struck down the law....
The state still is attempting to seize unused money on gift cards and traveler's checksTRENTON — New Jersey isn't giving up its effort to seize unused money on gift cards and traveler's checks.
Lawmakers voted last year to allow the seizure of cards after two to three years as a way to raise about $80 million and help balance the state's budget.
But in November, a federal judge temporarily struck down the law.
The Record of Bergen County reports the state isn't giving up though. State treasurer Andrew Sidamon-Eristoff has told a judge that the state will appeal the earlier ruling.
New Jersey Retail Merchants Association, the New Jersey Food Council and American Express filed suits to block the law.
Previous coverage:
• Federal judge blocks N.J. plan to raise $80M by taking unused gift card balances
• Federal judge puts hold on N.J. plan to collect money from unused gift, calling cards
• Gift card buyers beware: New restrictions take effect in 2010