Senate File 2042

                                       SENATE FILE       
                                       BY  FRAISE, STEWART, SENG,
                                           HORN, DEARDEN, KREIMAN,
                                           WARNSTADT, DVORSKY,
                                           QUIRMBACH, GRONSTAL,
                                           KIBBIE, COURTNEY, RAGAN,
                                           DOTZLER, BLACK, and McCOY


    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act providing for the awarding of a cash prize at an annual
  2    raffle.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
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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.
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