By: Louderback H.B. No. 2820
A BILL TO BE ENTITLED
AN ACT
relating to the limits on the amount of operating capital by a
charitable bingo organization.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2001.451(h), Occupations Code, is
amended to read as follows:
(h) Except as provided by Subsection (j), a licensed
authorized organization or a unit of licensed authorized
organizations may retain operating capital in the organization's or
unit's bingo account in an amount that:
(1) is equal to the organization's or unit's actual
average bingo expenses per quarter based on the preceding license
period, excluding prizes paid; and
(2) does not exceed a total of $100,000 [$50,000] for a
single organization or $100,000 [$50,000] for each member of a unit
unless:
(A) the commission by rule establishes a higher
amount for all organizations or units or one or more classes of
organizations or units; or
(B) the bingo operations director, on request,
raises the operating capital limit for one organization or unit as
necessary to facilitate the operation of the organization or unit.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2025.