TITLE: Relating to the value of a residential dwelling that may be offered or awarded as a prize at a charitable raffle.

SUMMARY: Relating to the value of a residential dwelling that may be offered or awarded as a prize at a charitable raffle.

FULL TEXT:
AN ACT relating to the value of a residential dwelling that may be offered or awarded as a prize at a charitable raffle. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 2002.056(b-1), Occupations Code, is amended to read as follows: (b-1) The value of a residential dwelling offered or awarded as a prize at a raffle that is purchased by the organization or for which the organization provides any consideration may not exceed $2 million [$250,000].SECTION 2. The change in law made by this Act applies to a charitable raffle conducted under Chapter 2002, Occupations Code, for which the prize is to be awarded on or after the effective date of this Act. SECTION 3. 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.