BILL · 2023–24 SESSION

SB 5988: Gift certificates/unclaimed

Concerning gift certificates as unclaimed property.

Summary

Requires gift certificates, including gift cards, to be reported as unclaimed property after three years for holders with total revenue exceeding $100 million.
Exempts gift certificates from reporting as unclaimed property if the gift certificate allows for purchases exclusively through paid membership programs costing at least $50 annually.
Modifies the requirement for holders of property presumed abandoned to send a notification to the apparent owner by changing the property value from $75 to $50.

From the Senate Bill Report (SB 5988), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee

AN ACT Relating to gift certificates as unclaimed property;

No recorded floor votes. This measure never reached a floor vote.

Bill numbers restart every two years, so the same number is a different bill in each session.

SB 5988 (2025–26) Opioid treatment prg. fees · Enacted · Chapter 73, Laws of 2026
SB 5988 (2019–20) Drug warehousing tax pref. · Did not pass · died in committee
SB 5988 (2017–18) Dependents, drug exposure · Did not pass · died in committee
SB 5988 (2015–16) Additive trans funding · Enacted with partial veto · Chapter 43, Laws of 2015, 3rd Special Session
SB 5988 (2013–14) Campaign contributions · Did not pass · stalled on the Senate floor
SB 5988 (2011–12) Foreclosure mediators · Enacted · Chapter 4, Laws of 2011, 2nd Special Session
SB 5988 (2009–10) Dependency & caregivers · Did not pass · died in committee
SB 5988 (2007–08) Medical benefits adm account · Did not pass · died in committee