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Can you summarize 23 ARCO Chapter 114?
Miscellaneous Regulated Industries > Charitable Bingo and Raffles Enabling Act
Short Summary
The Charitable Bingo and Raffles Enabling Act in Arkansas governs the conduct of bingo games and raffles by licensed authorized organizations. The Act aims to reduce the tax burden on these organizations, ensuring that the tax revenues generated do not exceed the funds necessary to administer and enforce bingo and raffle laws in the state. The Act defines various terms used in the act and provides clarity on their meanings within the context of the Charitable Bingo and Raffles Enabling Act. It prohibits the use of net receipts to compensate any person affiliated with the licensed authorized organization and requires that the games be conducted by the organization’s bona fide officers and members who volunteer their time without compensation. The Act also explicitly states that games of bingo or raffles cannot be conducted through any electronic device or machine. The Secretary of the Department of Finance and Administration is responsible for administering the Act and has authority over all games of bingo and raffles conducted in the state to ensure fair conduct and proper use of proceeds. The Act outlines the requirements and procedures for obtaining licenses for authorized organizations, distributors, and manufacturers. It also specifies the conditions under which a license may be revoked for these entities. The Act governs the levying of an excise tax on the sale of each bingo face by licensed distributors to licensed authorized organizations in Arkansas. The tax rate is three-tenths of one cent per bingo face. The Act requires licensed authorized organizations with gross receipts exceeding $500 per month to establish and maintain a regular checking account designated as the bingo and raffle account. All funds derived from the conduct of games of bingo and raffles, except for cash prizes, must be deposited into this account. The Act also provides guidelines for the withdrawal and use of funds from the bingo and raffle account. Overall, the Charitable Bingo and Raffles Enabling Act in Arkansas provides comprehensive regulations and procedures for the licensing, conduct, and taxation of bingo games and raffles by licensed authorized organizations.
Whom does it apply to?
The Act applies to licensed authorized organizations, distributors, and manufacturers involved in conducting bingo and raffles in the State of Arkansas.
What does it govern?
The Charitable Bingo and Raffles Enabling Act governs the conduct of bingo games and raffles by licensed authorized organizations in Arkansas.
What are exemptions?
No specific exemptions are mentioned in the provided document content.
What are the Penalties?
Violations of the Act can result in fines ranging from $5,000 for a first offense by a licensed authorized organization to $10,000 for a second or subsequent offense. Conducting a game of bingo or a raffle without a license is subject to the same penalties as provided under 5-66-118, concerning lotteries.
Jurisdiction
Arkansas