GIFT CERTIFICATE ACT

Creates the Gift Certificate Act. Provides that it is unlawful for any person or entity to sell a gift certificate to a purchaser that contains an expiration date or a service fee including, but not limited to, a service fee for dormancy. Provides that any gift certificate sold after January 1, 2005, is redeemable in cash for its cash value or subject to replacement with a new gift certificate at no cost to the purchaser or holder. Provides that a gift certificate sold without an expiration date is valid until redeemed or replaced. Makes exceptions to the prohibition of the service fee for dormancy. Exempts prepaid calling cards that are issued solely to provide an access number and authorization code for the prepaid calling service from the requirements of the Act.