Bill > SB1757

This bill amends the Consumer Fraud and Deceptive Business Practices Act to require that any gift certificate issued on or after the effective date of the amendment must be redeemable in cash for its full value. The bill builds upon existing provisions that previously regulated gift certificates, such as prohibiting expiration dates earlier than 5 years after issuance and preventing post-purchase fees. The new provision specifically mandates that gift certificates can now be exchanged for cash, which provides additional consumer protection by ensuring that consumers are not forced to spend the entire value of a gift certificate at a single store or lose the remaining balance. The bill defines gift certificates broadly, including various types of stored-value cards and credit slips, while excluding certain items like prepaid telecommunications cards and gift certificates usable with multiple sellers. This change aims to give consumers more flexibility and control over gift certificates they receive, preventing potential financial loss due to unused or partially used gift cards.

Justice

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1757&GAID=18&DocTypeID=SB&SessionID=114&GA=104