IL HB3703

Amends the Consumer Fraud and Deceptive Business Practices Act to add Section 2SS governing gift certificates issued on or after January 1, 2008.

Prohibits gift certificates from having expiration dates earlier than 5 years after issuance or charging post-purchase fees.

Prevents reduction of gift certificate face value and prohibits penalties on holders for non-use or untimely redemption.

Any remaining value on a gift certificate issued by a nonprofit organization shall revert to the nonprofit organization after the expiration date.

Exempts certain gift certificates from these requirements, including prepaid telecommunications cards, multi-seller gift certificates, awards/loyalty program certificates, and food product certificates.