Bill > HB2634

This bill amends Virginia's charitable gaming law to allow certain organizations to use a predetermined percentage of their charitable gaming receipts for organizational purposes. Specifically, the bill modifies regulations for both traditional charitable gaming and electronic gaming, permitting organizations to use up to 25% of their adjusted gross receipts. For electronic gaming, the bill ensures that organizations must use at least 10% of their gross receipts (minus prize payouts) for their charitable purposes. The bill introduces new definitions, including "charitable gaming adjusted gross receipts," which calculates the organization's gaming income by subtracting prize money paid out. It also requires the Department of Agriculture and Consumer Services to develop uniform standards for how organizations can count expenses related to real property acquisition, maintenance, or rental toward their required use of proceeds. These changes aim to provide more flexibility for charitable organizations in how they can use funds generated through gaming activities while maintaining oversight to ensure charitable purposes are served. The bill will become effective on January 1, 2026, giving organizations and regulatory bodies time to prepare for the new requirements.