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Synopsis As Introduced Amends the Consumer Fraud and Deceptive Business Practices Act. Makes it an unlawful practice to sell a gift certificate or gift card that contains an expiration date, with specified exceptions. Provides that gift certificates and gift cards are redeemable in cash or subject to replacement at no cost. Applies to gift certificates and gift cards sold on or after July 1, 2004.
House Committee Amendment No. 1 Deletes everything. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that it is an unlawful practice to knowingly engage in a persistent pattern and practice of issuing to a consumer a gift certificate or gift card containing an expiration date or period. Provides that a gift certificate or a gift card issued without an expiration date is valid until redeemed. Provides that the issuer of a gift certificate or gift card may charge the holder a specified service fee for a gift certificate or gift card redeemed more than 24 months after issuance. Provides that the Attorney General or a State's Attorney may bring an action for a violation by preliminary or permanent injunction. Provides that specified enforcement provisions of the Act do not apply to a violation of the new provisions. Exempts gift certificates or gift cards that are issued to not-for-profit organizations for fundraising purposes. Applies to gift certificates and gift cards issued on or after July 1, 2004.
House Committee Amendment No. 2 Provides that the terms "gift certificate" and "gift card" do not include prepaid telecommunications and technology cards (including, but not limited to, prepaid telephone calling cards, prepaid technical support cards, and prepaid Internet disks) that are (i) distributed to, or purchased by, a consumer or (ii) provided to a consumer pursuant to any award, loyalty, or promotional program without any money or other thing of value begin given in exchange for the card.
Deletes everything. Amends the Consumer Fraud and Deceptive Business Practices Act. Makes a technical change in a Section setting forth the short title of the Act.
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