VA HB1034

Establishes a new definition of "charitable gaming adjusted gross receipts" as gross receipts from charitable gaming (excluding electronic gaming) minus prize money paid to players

Caps the percentage of charitable gaming adjusted gross receipts that organizations must use for charitable purposes at no more than 10 percent

Caps the percentage of electronic gaming adjusted gross receipts required for charitable purposes at no more than 10 percent, with electronic gaming adjusted gross receipts calculated after deducting both prize money and the electronic gaming manufacturer's contractual share

Directs the Department of Agriculture and Consumer Services to develop regulations with uniform standards for determining allowable real property expenses that count toward charitable use requirements, effective July 1, 2028

Main provisions of the bill take effect January 1, 2027