Bill Would Let Charities Holding Poker Nights Hold'em
The California Assembly has upped the ante on charity poker by approving legislation that would allow a wide variety of nonprofits to hold fundraisers using gambling. The bill, introduced by Alberto Torrico, D-Newark, is given a good chance of passage in the Senate where it now awaits action. Attorney General Bill Lockyer is a sponsor.
"Many of California's gambling laws were written in the 19th Century, and some of them need to be modernized," says Nathan Barankin, a spokesman for the attorney general's office. Mr. Torrico says the need has been underscored by the federal government's increasing reliance on non-profits and faith-based programs to take care of social programs. "This is not a green light to every bar in the state to reorganize as a nonprofit," he says.
The proposed law would put restrictions on the gambling:
- Gamblers can play only for prizes, not cash, and the total value of prizes cannot exceed $5,000
- A total of 90 percent of the money raised must go to purpose of the fundraising
- Gamblers must be at least 21 years old
- The non-profit or charity can hold only one such fundraiser a year, and the hall where the game is held can hold no more than two gambling fundraisers in a year
Read more at... BizJournals.com
0 Comments:
Post a Comment
<< Home