State of Illinois
92nd General Assembly
Legislation

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[ Engrossed ][ Enrolled ][ House Amendment 001 ]


92_SB0076

 
                                               LRB9201198WHcs

 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-                LRB9201198WHcs
 1    the effective date of this amendatory Act of the 92nd General
 2    Assembly.

 3        Section 99.  This Act takes effect upon becoming law.

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