Bill Summary for S 666 (2023-2024)

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Summary date: 

Apr 10 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
Senate Bill 666 (Public) Filed Thursday, April 6, 2023
AN ACT TO INCREASE THE TOTAL APPRAISED VALUE OF ALL REAL ESTATE PRIZES OFFERED DURING A CALENDAR YEAR BY A NONPROFIT ORGANIZATION AS PART OF A RAFFLE.
Intro. by Jarvis, Johnson.

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Bill summary

Amends GS 14-309.15 by increasing the cap on (1) appraised value of real property that may be offered for any one raffle and (2) the total appraised value of all real estate prizes offered by any nonprofit in a calendar year, to $750,000 (was, $500,000). Prohibits no more than three real estate prizes from being offered by any nonprofit organization in any calendar year.