Senate Bill No. 460 mandates the Treasurer to conduct a study on the feasibility, potential benefits, and disadvantages of classifying the balance of unredeemed gift certificates as unclaimed property that would escheat to the state after a specified period. The bill requires the Treasurer to submit a report to the relevant joint standing committee of the General Assembly by January 1, 2027, detailing the findings of the study and any recommendations for statutory changes.

The bill does not introduce any fiscal impact on the state or municipalities, as the study can be conducted using existing resources. The new legal language inserted into the bill includes provisions for the study and the requirement for a report, while no deletions from current law are specified.