AUGUSTA (AP) – The state of Maine wants its share of gift cards that go unused, and State Treasurer David Lemoine is asking the attorney general to look into what the state can do to enforce the new law.
Gift cards are considered dormant if they’re not used within two years, and Maine wants to collect from the stores that issued them. State officials had hoped to collect $28.6 million this fiscal year and next from retail chains based on the law that took effect in May. So far, out-of-state retailers have either refused to pay or have challenged the legality of the law. Maine’s law aims to collect 60 percent of cards that go unused. Lemoine says 34 states have laws that apply to in-state retailers. He believes Maine and Connecticut are the only ones trying to collect from out-of-state retailers.
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