Text: HF00546 Text: HF00548 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. REAL PROPERTY RAFFLE AUTHORIZED &endash; TEMPORARY.
1 2 Notwithstanding a contrary provision of section 99B.7, upon
1 3 application and payment of a fee of one hundred dollars, the
1 4 department of inspections and appeals shall issue a raffle
1 5 license to a tax-exempt, nonprofit, charitable organization
1 6 for the purpose of raffling a parcel of real property which
1 7 was acquired as a gift by the organization. The license shall
1 8 allow the conducting of a raffle for not more than nine months
1 9 during the 1995 calendar year. The real property to be
1 10 raffled must be owned by the licensee before the effective
1 11 date of this Act and the license to conduct the real estate
1 12 raffle shall be purchased within ten days after the effective
1 13 date of this Act. The value of the parcel of real property to
1 14 be raffled may exceed twenty thousand dollars and the cost to
1 15 participate in the raffle may exceed one dollar for each
1 16 participant.
1 17 The licensee shall meet all other requirements for
1 18 licensees under section 99B.2 and 99B.7. In addition, the
1 19 licensee shall keep the receipts from the raffle in a separate
1 20 financial account and shall file a cumulative report for the
1 21 raffle by January 15, 1996, with the department of inspections
1 22 and appeals in a form determined by the department.
1 23 The department of inspections and appeals shall conduct a
1 24 special audit of the raffle by January 30, 1996, to verify
1 25 compliance with the appropriate requirements of chapter 99B
1 26 and this Act, except as otherwise provided in this Act. The
1 27 department of inspections and appeals shall file a copy of the
1 28 audit report with the governor and the general assembly on or
1 29 before February 15, 1996.
1 30 Sec. 2. EFFECTIVE DATE. This Act, being deemed of
1 31 immediate importance, takes effect upon enactment.
1 32 Sec. 3. REPEALER. This Act is repealed effective February
1 33 15, 1996.
1 34 EXPLANATION
1 35 The bill temporarily authorizes a tax-exempt, nonprofit,
2 1 qualified organization to award at a raffle a prize of real
2 2 property acquired as a gift by the qualified organization.
2 3 The department of inspections and appeals shall issue the
2 4 license after application and payment of a $100 fee. The
2 5 period of the raffle may not exceed nine months and must be
2 6 completed on or before December 31, 1995. The value of the
2 7 raffle prize may exceed $20,000 and the cost of a raffle
2 8 ticket may exceed $1. The licensee is required to file a
2 9 cummulative report for the raffle by January 15, 1996. The
2 10 department of inspections and appeals shall conduct a special
2 11 audit of the raffle by January 30, 1996.
2 12 This bill takes effect upon enactment.
2 13 The bill is repealed on February 15, 1996.
2 14 LSB 2609HH 76
2 15 tj/jj/8
Text: HF00546 Text: HF00548 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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