Text: SF02041 Text: SF02043 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 99B.7, subsection 1, paragraph d,
1 2 unnumbered paragraphs 1 and 2, Code Supplement 2003, are
1 3 amended to read as follows:
1 4 Cash prizes shall not be awarded in games other than bingo
1 5 and raffles. The value of a prize shall not exceed ten
1 6 thousand dollars and merchandise prizes shall not be
1 7 repurchased. If a prize consists of more than one item, unit,
1 8 or part, the aggregate value of all items, units, or parts
1 9 shall not exceed ten thousand dollars. However, one raffle
1 10 may be conducted per calendar year at which real property or
1 11 one or more merchandise prizes having a combined value of more
1 12 than ten thousand dollars may be awarded or a cash prize of up
1 13 to one hundred fifty thousand dollars may be awarded.
1 14 If a raffle licensee holds a statewide raffle license, the
1 15 licensee may hold not more than eight raffles per calendar
1 16 year at which real property or one or more merchandise prizes
1 17 having a combined value of more than ten thousand dollars may
1 18 be awarded or a cash prize of up to one hundred fifty thousand
1 19 dollars may be awarded. Each such raffle held under a
1 20 statewide license shall be held in a separate county.
1 21 EXPLANATION
1 22 This bill allows an annual raffle, or a raffle conducted by
1 23 a statewide raffle licensee, to award a cash prize of up to
1 24 $150,000. Under current law, an annual raffle or raffle
1 25 conducted by a statewide raffle licensee can award real
1 26 property or merchandise having a value of more than $10,000
1 27 without a provision specifically authorizing a cash prize.
1 28 LSB 5726XS 80
1 29 ec/gg/14
Text: SF02041 Text: SF02043 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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