GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

H	1 

HOUSE BILL 29

Short Title:  Raffle Limits Upped.	(Public)

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Sponsors: Representatives Baker; Hall and Gulley.

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Referred to:  Judiciary II.

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February 4, 1997

A BILL TO BE ENTITLED
AN ACT TO INCREASE THE MAXIMUM RAFFLE CASH PRIZES AND THE FAIR MARKET VALUE OF RAFFLE MERCHANDISE PRIZES.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 14-309.15(d) reads as rewritten:
"(d)	The maximum cash prize that may be offered or paid for any one raffle is ten thousand dollars ($10,000) and if merchandise is used as a prize, and it is not redeemable for cash, the maximum fair market value of that prize may be fifty thousand dollars ($50,000).  No real property may be offered as a prize in a raffle.  The total cash prizes offered or paid may not exceed ten thousand dollars ($10,000) in any calendar year.  The total fair market value of all prizes offered, either in cash or in merchandise that is not redeemable for cash, may not exceed fifty thousand dollars ($50,000) in any calendar year."
Section 2.  This act is effective when it becomes law.