Gassman Has Plans For Session

Posted on Wednesday, January 2, 2008

Thousands of South Dakota shoppers have been hitting the stores for some after Christmas deals, and many of those shoppers will be using gift cards. The average gift card buyer this holiday season spent two-hundred and three dollars on the convenient gifts. But while the cards are handy for the gift buyer and the receiver, they also can have their financial pitfalls. Industry experts say over 25% percent of gift cards are never redeemed, many are simply forgotten about or misplaced. But many cards have expiration dates, or dormancy fees that reduce their value. Consumer Reports advises consumers to use the cards quickly or risk losing the money.

That's a problem however that South Dakotans may not have to face soon. District 8 representative Dave Gassman of Canova says the gift cards industry need some kind of over-site. He plans to propose such a law this year.

Nine states prohibit retailers from selling gift cards that expire, carry fees, or decline in value over time.

Gassman and the rest of the South Dakota Legislature begin the 2008 Legislative session on Tuesday.