State Senator David Cappiello (R-Danbury) has expressed his concern over the State Treasurer's possible misuse of funds earmarked specifically for the state's unclaimed property program. At the heart of the issue are recent TV ads during which State Treasurer Denise Nappier publicizes the state's new law that prohibits expiration dates on gift cards. The TV ad was paid for with funds from the unclaimed property administrative account.

"Although it is true that the State Treasurer may set aside a portion of these funds to pay for public outreach designed to educate citizens about how they may recoup money or property to which they may be entitled, nowhere in this particular ad is there any reference to the unclaimed property program or how to identify and reclaim property lost to the program," explained Senator Cappiello. "It is clear to me and anyone who saw the ad that these spots only served to tout the new gift card law and link the State Treasurer to this legislative initiative."

Senator Cappiello has also taken issue with the accuracy of the ads.

"On top of everything the ad itself was misleading, as it failed to inform the public that the value of unused gift cards are escheated to the state if unused within three years, a provision that essentially creates a de-facto expiration date. Legislation I have proposed this session would get rid of this escheat provision and truly eliminate all expiration dates."