In response to a barrage of complaints that some retailers issue gift cards with a myriad of restrictions, such as expiration dates, inactivity fees tacked onto the cards, and failure to accept the cards during sales or holidays, Michigan Governor Jennifer Granholm signed into law a series of bills preventing stores from tacking on terms to the gift cards.

Provisions of the new laws state that:

• Michigan retailers can't alter the terms or conditions of a gift card or certificate once the card has been issued.
• All terms of the gift card must be disclosed when issue.
• All gift cards will be valid for at least five years.
• Inactivity fees and other charges can't be applied.
• Retailers cannot refuse to accept cards or certificates during sales, close-outs or liquidations.
• Retailers must allow customers to pay for items whose cost exceeds the gift with the cards and certificates.
  

The question is, are these new laws an example of the government properly protecting the interests of its constituents, or is this simply the unnecessary hand of big government meddling in private enterprising?

On the one hand, consumer have filed complaints with the government asking for protections to be put in place to prevent businesses from taking advantage of those who don't read every word of the three page, size six font terms of agreement when they buy a gift card. 

On the other hand, there's another gift that lasts for five years, has no terms of use, and can always be used during holidays and sales.  Its called cash.  And if a customer has a problem with a gift card, they can always give an Andrew Jackson or two instead.  Once gift card sales decline substantially, or enough complaints are registered with the business issuing the restrictions on the cards instead of the government, retailers will likely trade in their tricky ways to bring back their costumers.

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