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A BILL TO BE ENTITLED
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AN ACT
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relating to the limits on the amount of operating capital by a |
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charitable bingo organization. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2001.451(h), Occupations Code, is |
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amended to read as follows: |
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(h) Except as provided by Subsection (j), a licensed |
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authorized organization or a unit of licensed authorized |
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organizations may retain operating capital in the organization's or |
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unit's bingo account in an amount that: |
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(1) is equal to the organization's or unit's actual |
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average bingo expenses per quarter based on the preceding license |
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period, excluding prizes paid; and |
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(2) does not exceed a total of $100,000 [$50,000] for a |
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single organization or $100,000 [$50,000] for each member of a unit |
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unless: |
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(A) the commission by rule establishes a higher |
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amount for all organizations or units or one or more classes of |
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organizations or units; or |
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(B) the bingo operations director, on request, |
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raises the operating capital limit for one organization or unit as |
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necessary to facilitate the operation of the organization or unit. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2025. |