Relating to regulating charitable bingo and authorizing the establishment of a nonprofit corporation to advertise and promote charitable bingo.
What changed between versions
Added Section 2001.4151 creating a new nonprofit corporation that can accept remitted prize fees from licensed authorized organizations to fund advertising and promotional activities for charitable bingo.
Added a new provision allowing licensed organizations to reduce remittances to counties/municipalities by up to 15% of 2023 remittance amounts, with funds directed to the new nonprofit corporation.
Modified equipment return procedures to require distributors to maintain records of returned items and provide copies to both the distributor and the organization.
Adjusted operating capital limits for bingo accounts from $50,000 to $100,000 per organization or unit, with exceptions for new operations or force majeure circumstances.
Extended effective dates for most provisions to September 1, 2025, with Section 5 (prize fee changes) taking effect October 1, 2025.
Added new subsection (h) clarifying that the nonprofit corporation can accept funds from sources other than bingo prize fees.