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Synopsis As Introduced 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 any person who sells a gift certificate subject to an expiration date shall be fined not more than $500 per occurrence. Defines gift certificate.
Deletes everything after the enacting clause. Amends the Uniform Disposition of Unclaimed Property Act. Provides that the Act applies to a gift certificate or gift card that contain any type of post-sale charge or fee, including but not limited to, service charges, dormancy fees, account maintenance fees, cash-out fees, replacement card fees, and activation or reactivation charges. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that any gift certificate subject to a fee must contain a statement clearly and conspicuously printed on the gift card stating whether there is a fee and other related information. Provides that any gift certificate subject to an expiration date must contain a statement clearly and conspicuously printed on the gift card stating the expiration date. Provides that the statement may appear on the front or back of the gift card in a location where it is visible to any purchaser prior to the purchase. Defines "gift certificates".
House Committee Amendment No. 1 Deletes everything after the enacting clause. Amends the Uniform Disposition of Unclaimed Property Act. Provides that the Act does not apply to a gift certificate if it is the policy and practice of the issuer of the gift certificate or gift card to eliminate all post-sale charges and fees. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the Act shall apply to gift certificates (rather than gift cards and gift certificates). Makes other technical changes.
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