Full Text of SB2901 93rd General Assembly
SB2901enr 93RD GENERAL ASSEMBLY
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| AN ACT concerning business transactions.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Uniform Disposition of Unclaimed Property | 5 |
| Act is amended by changing Section 10.6 as follows:
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| (765 ILCS 1025/10.6)
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| Sec. 10.6. Gift certificates and gift cards.
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| (a) This Act applies to a gift certificate or gift card | 9 |
| only if:
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| (i) the gift certificate or gift card contains or has | 11 |
| language indicating there is an expiration date ,
or
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| expiration period or language indicating that there is any | 13 |
| type of post-sale charge or fee including but not limited | 14 |
| to service charges, dormancy fees, account maintenance | 15 |
| fees, cash-out fees, replacement card fees, and activation | 16 |
| or reactivation charges ; and
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| (ii) none of the exceptions in this Section apply.
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| (b) This Act does not apply to a gift certificate or gift | 19 |
| card that
contains or has language indicating that there is an | 20 |
| expiration date or expiration period , or any type of post-sale | 21 |
| charge or fee including but not limited to service charges, | 22 |
| dormancy fees, account maintenance fees, cash-out fees, | 23 |
| replacement card fees, and activation or reactivation charges
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| if:
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| (i) the gift certificate or gift card was issued before | 26 |
| the effective
date of this amendatory Act of the 93rd
92nd
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| General Assembly; and
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| (ii) it is the policy and practice of the issuer of the | 29 |
| gift
certificate or gift card to honor the gift certificate | 30 |
| or gift card after its
expiration date or the end of its | 31 |
| expiration period and it is the policy and practice of the | 32 |
| issuer of the gift certificate or gift card to eliminate |
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| all post-sale charges and fees, and the issuer posts
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| written notice of the policy and practice at locations at | 3 |
| which the
issuer sells gift certificates or gift cards. The | 4 |
| written notice shall be
an original or a copy of a notice | 5 |
| that the State Treasurer shall produce
and provide to | 6 |
| issuers free of charge.
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| (c) Nothing in this Section applies to a gift certificate | 8 |
| or gift card if
the value of the gift certificate or gift card | 9 |
| was reported and remitted under
this Act before the effective | 10 |
| date of this amendatory Act of the 93rd
92nd General
Assembly.
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| (Source: P.A. 92-487, eff. 8-23-01.)
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| Section 10. The Consumer Fraud and Deceptive Business | 13 |
| Practices Act is amended by adding Section 2QQ as follows: | 14 |
| (815 ILCS 505/2QQ new) | 15 |
| Sec. 2QQ. Gift certificates. | 16 |
| (a) "Gift certificate" means a record evidencing a promise, | 17 |
| made for consideration, by the seller or issuer of the record | 18 |
| that goods or services will be provided to the holder of the | 19 |
| record for the value shown in the record and includes, but is | 20 |
| not limited to, a record that contains a microprocessor chip, | 21 |
| magnetic stripe or other means for the storage of information | 22 |
| that is prefunded and for which the value is decremented upon | 23 |
| each use, a gift card, an electronic gift card, stored-value | 24 |
| card or certificate, a store card or a similar record or card. | 25 |
| For purposes of this Act, the term "gift certificate" does not | 26 |
| include any of the following: | 27 |
| (i) prepaid telecommunications and technology cards | 28 |
| including, but not limited
to, prepaid telephone calling | 29 |
| cards, prepaid technical support cards, and prepaid | 30 |
| Internet disks that are distributed to or purchased by a | 31 |
| consumer; | 32 |
| (ii) prepaid telecommunications and technology cards | 33 |
| including, but not
limited to, prepaid telephone calling | 34 |
| cards, prepaid technical support cards, and prepaid |
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| Internet disks that are provided to a consumer pursuant to | 2 |
| any award, loyalty, or promotion program without any money | 3 |
| or other thing of value being given in exchange for the | 4 |
| card; or | 5 |
| (iii) any gift certificate usable with multiple | 6 |
| sellers of goods or services. | 7 |
| (b) Any gift certificate subject to a fee must contain a | 8 |
| statement clearly and conspicuously printed on the gift | 9 |
| certificate stating whether there is a fee, the amount of the | 10 |
| fee, how often the fee will occur, that the fee is triggered by | 11 |
| inactivity of the gift certificate, and at what point the fee | 12 |
| will be charged. The statement may appear on the front or back | 13 |
| of the gift certificate in a location where it is visible to | 14 |
| any purchaser prior to the purchase. | 15 |
| (c) Any gift certificate subject to an expiration date must | 16 |
| contain a statement clearly and conspicuously printed on the | 17 |
| gift certificate stating the expiration date. The statement may | 18 |
| appear on the front or back of the gift certificate in a | 19 |
| location where it is visible to any purchaser prior to the | 20 |
| purchase. | 21 |
| (d) Subsection (c) does not apply to any gift certificate | 22 |
| that contains a toll free phone number and a statement clearly | 23 |
| and conspicuously printed on the gift certificate stating that | 24 |
| holders can call the toll free number to find out the balance | 25 |
| on the gift certificate, if applicable, and the expiration | 26 |
| date. The toll free number and statement may appear on the | 27 |
| front or back of the gift certificate in a location where it is | 28 |
| visible to any purchaser prior to the purchase. | 29 |
| (e) This Section does not apply to any of the following | 30 |
| gift certificates: | 31 |
| (i) Gift certificates that are distributed by the | 32 |
| issuer to a consumer pursuant to an
awards, loyalty, or | 33 |
| promotional program without any money or thing of value | 34 |
| being given in exchange for the gift certificate by the | 35 |
| consumer. | 36 |
| (ii) Gift certificates that are sold below face value |
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| at a volume discount to employers or to nonprofit and | 2 |
| charitable organizations for fundraising purposes if the | 3 |
| expiration date on those gift certificates is not more than | 4 |
| 30 days after the date of sale. | 5 |
| (iii) Gift certificates that are issued for a food | 6 |
| product.
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