Crystal Leatherman, Local and State Government Affairs has led the charge in strong opposition to the suite of bills Senator Trudeau (D-27) and Rep. Alvarado (D-34) introduced targeting Washington’s existing gift card laws.
HB 2095/ SB 5988 specifically target “abandoned” gift card balances as unclaimed property. The bill would require certain businesses to escheat gift cards to the Department of Revenue’s Unclaimed Property, which would then fund the state’s general fund.
HB 2094/ SB 5987 would alter current gift card practices, including changing the “cash out” provision from $5 to $50, require businesses to accept multiple forms of tender through their apps, and remove mandatory minimums on reloadable gift cards.
All four bills had committee hearings on Tuesday, January 16. WR and other business associations, industry partners, chamber of commerce, and concerned business owners testified in strong opposition.
Only HB 2095—unclaimed property—is scheduled for an executive session today, January 18, 2024, in the House Finance Committee. WR will continue meeting with legislators and following these bills very closely.
