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ID S1286
Bill
Status
4/3/2012
Primary Sponsor
State Affairs Committee
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AI Summary
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Increases the maximum administrative expense percentage for charitable bingo operations from 15% to 18% of gross revenues, with organizations able to request exemptions from the state lottery commission.
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Allows charitable bingo organizations to decrease administrative expenses and allocate those revenues to prizes, with a maximum of 70% of gross revenues used for prizes (previously capped at 65%).
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Changes the minimum charitable purpose requirement for raffle net proceeds from 90% to 80%, allowing charitable organizations to retain a larger percentage for administrative and operational costs.
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Maintains existing requirements for bingo and raffle licensing, accounting, record-keeping, and annual reporting to the state lottery commission.
Legislative Description
Amends existing law to revise the allowed expenditure percentages for charitable bingo licensees and to revise the allowed expenditure percentage for charitable raffle licensees.
BINGO AND RAFFLES
Last Action
Governor signed Session Law Chapter 259 Effective: 07/01/12
4/3/2012