New Ill. law allows refunds from expired gift cards

It requires that gift cards sold in Illinois cannot expire for five years after they are issued. It also restricts fees that diminish their value.

Illinois residents who receive gift cards this holiday season may also be able to redeem them for cash, even if the gift cards expire.

The treasurer's office is holding more than $5 million in unused gift card balances for Illinois residents.

If you have expired gift cards, you can search for your refund amount by calling the Illinois State Treasurer's Office at 866-458-7327 or by checking the state's unclaimed property database at www.cashdash.net.