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| [ House Amendment 001 ] |
92_HB2064
LRB9201199WHcs
1 AN ACT to amend the Uniform Disposition of Unclaimed
2 Property Act by adding Section 10.6.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Uniform Disposition of Unclaimed Property
6 Act is amended by adding Section 10.6 as follows:
7 (765 ILCS 1025/10.6 new)
8 Sec. 10.6. Gift certificates and gift cards.
9 (a) This Act applies to a gift certificate or gift card
10 only if:
11 (i) the gift certificate or gift card contains an
12 expiration date or expiration period; and
13 (ii) none of the exceptions in this Section apply.
14 (b) This Act does not apply to a gift certificate or
15 gift card that contains an expiration date or expiration
16 period if:
17 (i) the gift certificate or gift card was issued
18 before the effective date of this amendatory Act of the
19 92nd General Assembly; and
20 (ii) it is the policy and practice of the issuer of
21 the gift certificate or gift card to honor the gift
22 certificate or gift card after its expiration date or the
23 end of its expiration period and the issuer posts written
24 notice of the policy and practice at locations at which
25 the issuer sells gift certificates or gift cards. The
26 written notice shall be an original or a copy of a notice
27 that the State Treasurer shall produce and provide to
28 issuers free of charge.
29 (c) Nothing in this Section applies to a gift
30 certificate or gift card if the value of the gift certificate
31 or gift card was reported and remitted under this Act before
-2- LRB9201199WHcs
1 the effective date of this amendatory Act of the 92nd General
2 Assembly.
3 Section 99. This Act takes effect upon becoming law.