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SB 460

AN ACT CONCERNING A STUDY OF WHETHER UNCLAIMED GIFT CERTIFICATES SHOULD BE CONSIDERED ABANDONED PROPERTY.

2026 Regular Session Introduced by Tom Delnicki

Connecticut will study whether unclaimed gift certificates should be classified as abandoned property, potentially transferring unused funds to state custody.

FILE NO. 501
#abandonedproperty #giftcertificatesandgiftcards #reports #statetreasurer #studies
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Bill Summary · SB 460

Legislative bill overview

SB 460 directs Connecticut to conduct a comprehensive study examining whether unclaimed gift certificates should be classified as abandoned property under state law. The bill would require analysis of how gift certificates are currently treated, what happens to unclaimed funds, and whether reclassifying them as abandoned property would be appropriate. The study would presumably inform future legislative action on gift certificate regulations.

Why is this important

Unclaimed gift certificates represent significant sums of consumer money that may be held indefinitely by retailers. Classifying them as abandoned property could potentially transfer these funds to the state's unclaimed property program, generating revenue for the state while requiring businesses to attempt locating certificate holders. This affects both consumer protections and business practices across Connecticut's retail sector.

Potential points of contention

  • Business impact: Retailers may oppose reclassification, arguing it creates administrative burden and reduces their retained earnings from expired or forgotten certificates
  • Consumer rights: Consumer advocates may debate whether abandoned gift certificate funds should revert to the state versus remaining with businesses, and how long waiting periods should be
  • Definitional questions: The study must address what constitutes "unclaimed" (inactive for how long?), expiration policies, and whether partial-use certificates should be included

Compiled from official sources — confirm details with the bill’s official record.

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