HB4614 93RD GENERAL ASSEMBLY 






 

 		











93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4614


 
Introduced 02/04/04, by Kathleen A. Ryg
 
SYNOPSIS AS INTRODUCED:
 		













815 ILCS 505/2QQ new










    Amends the Consumer Fraud and Deceptive Business Practices Act.  Provides that no person shall sell or issue a gift certificate that is subject to an expiration date.  Provides that no gift certificate or any agreement with respect to the gift certificate may contain language suggesting that an expiration date may apply.  Provides that fees and penalties shall not be imposed for inactivity with respect to a gift certificate.  Provides that the value of a gift certificate that is not redeemed within 3 years is presumed abandoned.  Provides that any person who sells a gift certificate shall obtain the address of the owner of the gift certificate and maintain a record of such address.  Provides that any person who sells a gift certificate subject to an expiration date shall be fined not more than $500 per occurrence.  Defines gift certificate.  



















LRB093 18710 RXD 44439 b




















 


 


A BILL FOR









 














HB4614

LRB093 18710 RXD 44439 b









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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 Consumer Fraud and Deceptive Business 
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Practices Act is amended  by adding Section 2QQ as follows:
 
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    (815 ILCS 505/2QQ  new)
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    Sec. 2QQ.   Gift certificates.
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    (a) No person shall sell or issue a gift certificate that 
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is subject to an expiration date.  No gift certificate or any 
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agreement with respect to such gift certificate may contain 
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language suggesting that an expiration date may apply to the 
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gift certificate.
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    (b) No person shall impose a dormancy charge or fee, 
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abandoned property charge or fee, unclaimed property charge or 
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fee, escheat charge or fee, inactivity charge or fee, or any 
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similar charge, fee or penalty for inactivity with respect to a 
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gift certificate.
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    (c) The value of a gift certificate that is not redeemed 3 
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years after the later of (1) the date of purchase or issuance 
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of a gift certificate, or (2) the date of the last transaction 
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by the owner that increased or decreased the value of the gift 
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certificate is presumed abandoned.
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    (d) Any person who sells or issues a gift certificate shall 
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obtain the address of the owner of such gift certificate and 
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maintain a record of such address.  In the absence of a record 
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of the address of the owner of the gift certificate, the 
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address of the owner, shall be presumed to be the address of 
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the State of Illinois Treasurer.
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    (e) Nothing in this Section shall be construed to prevent a 
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holder from honoring a gift certificate, the unredeemed value 
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of which has been reported to the Treasurer, and thereafter 
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seeking reimbursement from the Treasurer.
 


 









HB4614
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LRB093 18710 RXD 44439 b







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    (f) Any person who violates  this Section commits an 
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unlawful practice within the meaning of this Act and is guilty 
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of a petty offense and may be fined not more than $500 per 
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occurrence.
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    (g) "Gift certificate" means a  tangible record evidencing a 
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promise, made for consideration, by the seller or issuer of the 
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record that goods or services will be provided to the owner of 
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the record to the value shown in the record and includes, but 
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is not limited to, a record that contains a microprocessor 
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chip, magnetic stripe or other means for the storage of 
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information that is prefunded and for which the value is 
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decremented upon each use of a gift card, an electronic gift 
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card, stored-value card or certificate, a store card, or a 
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similar record or card.  "Gift certificate" does not include 
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prepaid calling cards or prepaid commercial mobile radio 
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services.