NY Reaped $48M from Unused Gift Cards
New York took in a record $48 million from unused gift card balances in 2022.
A settlement with Apple netted authorities almost $3 million, while another with H&M brought in around $18 million.
“This holiday season I encourage all New Yorkers to spend their gift cards in a timely manner to avoid possible inactivity fees or having the money turned over to my office,” NY State Comptroller Thomas DiNapoli said.
The Office of Unclaimed Funds currently has $17.5 billion.
So that's where the unused gift cards go? Towards funding the government?
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