Representative Cherry has introduced HB 1122 which prohibits a person from issuing a gift card subject to expiration or subject to dormancy fees or the like.
I like getting gift cards even if, as my wife notes, I am not very prompt in using them. Still, I appreciate the quip, “Gift cards: almost as good as cash!” which suggests that what you are doing is spending your money to give a diminished form of money. One of my relatives does retail sales, and he suggested that when his outfit gives out gift cards, the non-redemption factor is pretty high; something like 15%. That’s some nice pure profit for a retailer. Rep. Cherry’s bill would diminish that profit somewhat with uncertainty about whether someone is going to walk in the door 15 years later to redeem it.
I don’t know if your relative has any insight on this, but on the flip side of the gift card angle from not using it at all is that at least for me, when I go to spend a gift card I tend to spend a few bucks more at the store than the card was worth, so that’s a little bonus to the store too. Just happened to do that last night at Barnes & Noble!
When I used to work for T.G.I. Friday’s they used paper gift certificates when most everyone had switched to gift cards. The redemption rate of paper certificates was much lower, and thus more profitable.