Not so fast: A federal judge has temporarily stopped New Jersey from going ahead with a plan to seize unused money on gift cards and travelers checks.
The state’s retailers would have been required to begin collecting the zip codes of gift card buyers starting Tuesday. If the card went unredeemed after two years, the state could seize the money left on cards bought by state residents.
And lots of it — about $80 million to help balance the state budget.
New Jersey Retail Merchants Association, the New Jersey Food Council and American Express sued to block the law.
A federal judge granted the temporary injunction on Monday pending a more detailed review.