Senate File 122 - Introduced SENATE FILE BY COMMITTEE ON STATE GOVERNMENT (SUCCESSOR TO SF 21) Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act relating to cash prizes for raffles and providing an 2 effective date. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 1162SV 81 5 ec/gg/14 PAG LIN 1 1 Section 1. Section 99B.7, subsection 1, paragraph d, 1 2 unnumbered paragraphs 1 and 2, Code 2005, are amended to read 1 3 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 oracashprize1 13 prizes of up to a total of two hundred thousand dollars may be 1 14 awarded. 1 15 If a raffle licensee holds a statewide raffle license, the 1 16 licensee may hold not more than eight raffles per calendar 1 17 year at which real property or one or more merchandise prizes 1 18 having a combined value of more than ten thousand dollars may 1 19 be awarded oracashprizeprizes of up to a total of two 1 20 hundred thousand dollars may be awarded. Each such raffle 1 21 held under a statewide license shall be held in a separate 1 22 county. 1 23 Sec. 2. EFFECTIVE DATE. This Act, being deemed of 1 24 immediate importance, takes effect upon enactment. 1 25 EXPLANATION 1 26 This bill allows an annual raffle, or a raffle conducted by 1 27 a statewide raffle licensee, to award cash prizes of up to a 1 28 total of $200,000. Current law permits only the awarding of a 1 29 single cash prize in an amount of up to $200,000. 1 30 The bill takes effect upon enactment. 1 31 LSB 1162SV 81 1 32 ec:nh/gg/14