H600 - Regulatory Reform Act of 2023. (SL 2023-137)

Overview: Section 47 of S.L. 2023-137 allows a nonprofit organization to conduct up to five raffles per year, repeals the maximum real property prize value of $500,000 per raffle, and imposes a cap on total appraised value of all real property prizes offered in a single year to $2.25 million.

This bill was vetoed by the Governor on October 2, 2023, and that veto was overridden by the General Assembly on October 10, 2023. This section became effective on October 10, 2023, and applies to raffles conducted on or after that date.