Bill > HB154

This bill amends the New Mexico Bingo and Raffle Act to create a specific exemption for raffles held by certain youth-focused organizations. Under the new provisions, organizations that are tax-exempt and primarily serve youth aged 18 and younger will be exempt from the existing regulations on raffles. This means these organizations can hold fundraising raffles without needing to comply with the previous restrictions in the Bingo and Raffle Act, such as limitations on the number of raffles per year or notification requirements. The tax-exempt status references specific sections of New Mexico tax law (Sections 7-2-4 and 7-2A-4), which typically apply to non-profit organizations. The bill maintains existing exemptions for other types of raffles, such as those held at fairs, by religious organizations, or for charitable purposes. The new exemption is specifically designed to make fundraising easier for youth-serving organizations like school clubs, youth sports teams, and other extracurricular groups. The bill will take effect on July 1, 2025.

Budget and Finance, Business and Industry

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=154&year=25