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1997 SESSION

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970058144
HOUSE BILL NO. 1983 Offered January 10, 1997 A BILL to amend and reenact § 18.2-340.23 of the Code of Virginia, relating to charitable gaming; exemption. ---------- Patrons-- Callahan and McClure ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1. That § 18.2-340.23 of the Code of Virginia is amended and reenacted as follows:

§ 18.2-340.23. Organizations exempt from certain permit, financial reporting and audit requirements.

Any organization that reasonably expects to realize gross receipts of $25,000 $35,000 or less in any twelve-month period and a volunteer fire department or rescue squad or auxiliary unit thereof which has been recognized by an ordinance or resolution of the political subdivision where the voluntary fire department or rescue squad is located as being a part of the safety program of such political subdivision shall be exempt from the requirements of § 18.2-340.25 if, prior to conducting charitable gaming, it notifies the Commission, on a form prescribed by the Commission, that it will conduct charitable gaming. Any such organizations also shall be exempt from the financial reporting and audit requirements of this article and the payment of audit fees but shall file with the Commission, at such time or times as may be required by the Commission, a resolution of its board of directors stating that the organization has complied with the provisions of this article. If any of the organization's actual gross receipts for the twelve-month period exceed $25,000 $35,000, the Commission may require the organization to file by a specified date the report required by § 18.2-340.30. Nothing in this section shall prevent the Commission from conducting any investigation or audit it deems appropriate to ensure the organization's compliance with the provisions of this article or the Commission's regulations.