Morning Sentinel
Unused gift cards add to revenue problems
Kennebec Journal & Morning Sentinel 11/22/2007

AUGUSTA -- An unusual suspect is responsible for $28 million of the $95 million revenue downgrade -- gift cards.

How is that so?

State Treasurer David Lemoine explained it this way:

A few years ago, the Legislature passed a bill that said Maine would be first in line to claim the money that goes unused when a Maine resident doesn't spend the value on a gift card.

Lawmakers figured if you didn't spend the money in two years, it should end up on the state's unclaimed property list.

But out-of-state companies that issue the cards feel differently, Lemoine said.

They have refused to comply with Maine law, even after Lemoine sent letters to about 50 of them over the summer. The state Attorney General's Office is looking into it, but in the meantime, the money the state thought it would be getting is not coming in, he said.

"Regardless of whether enforcement action is successful, the funds are unlikely to come in during the current biennium," he said.

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robert sweet of augusta, ME
Nov 22, 2007 2:24 AM
ummm....... if i don't use the money in my savings account for two years will the lawmakers figured if i didn't spend the money , it should end up on the state's unclaimed property listwill the state take that to....man i am starting to be embarassed to say im from maine.report abuse
Leon Richard of Farmington, ME
Nov 22, 2007 6:40 AM
Good for nothing, lousy, miserable, bunch of thieves. And now the loot is not forthcoming, so the budget is short? What a bunch of real treasures, really.

I am so glad I have such a den of thieves and a pack of liars down there watching out for me. At least I know where they are so I can keep an eye on them. Part of the time at least.report abuse
Nana of Oakland, ME
Nov 22, 2007 7:11 AM
I don't understand why the state would have any right to the money anyway. The store sold the card just as if it was a purchase so the money should stay with the store regardless if it was used or not. It's about time some of the budgets in Augusta were cut without raising taxes. Young adults don't stay in Maine because of the high cost of living as well as retired people. It's time we weren't the most heavily taxed state.report abuse
Working_towards a_healthier_Maine of Meddybemps, ME
Nov 22, 2007 7:45 AM
Our state government is grasping at every revenue straw no matter how ridiculous they may be. Tax and spend economics.

IMPEACH BALDACCI. He is an idiot.report abuse

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