Leawood, Kan. – March 24, 2023: Last month, Illinois House Bill 3785 (HB 3785) was introduced before the Illinois House of Representatives. The bill would amend the consumer protection act to require that sellers of gift certificates “return the remaining balance on the gift certificate in the form of cash or store credit” after the certificate is redeemed by a consumer. 2023 IL H.B. 3785 § 5(d-5). Gift certificate is defined to include gift cards. Id at 5(a).
Next, HB 3785 moves to the Rules Committee for consideration. Card Compliant will continue to monitor the bill.
To read Illinois House Bill 3785 click here: Illinois HB 3785.
About the Compliance Libraries:
The Compliance Libraries provide a one stop location for comprehensive information on the laws, rules and standards regulating gift cards. Its range includes federal and state laws, GAAP accounting standards and tax rules along with other helpful items.
For more information visit www.compliancelibraries.com.
The Compliance Libraries are a service of Card Issuance & Management, Inc., a subsidiary of Card Compliant, LLC.