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| [ Introduced ] | [ Senate Amendment 001 ] |
91_SB1191eng SB1191 Engrossed LRB9106143SMdv 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 6 Property 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 91st 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 SB1191 Engrossed -2- LRB9106143SMdv 1 the effective date of this amendatory Act of the 91st General 2 Assembly. 3 Section 99. This Act takes effect upon becoming law.