Senate Bill No. 487, introduced by Senator Owen, amends the Charitable Raffles, Bingo, and Keno Licensing Law to clarify the requirements for rental agreements related to charitable gaming premises and equipment. The bill stipulates that any lease must provide for a rental arrangement that is mutually agreed to in writing by the parties involved. Additionally, it maintains the existing prohibition against payments exceeding the reasonable market rental rate and against any payment being based on a percentage of gross receipts or profits from games of chance.

Furthermore, the bill reinforces that leases between commercial lessors and charitable organizations for gaming sessions must adhere to the same conditions regarding reasonable market rates and must not provide for rentals of less than a two-hour session. The effective date for these changes is set for August 1, 2026. Overall, the bill aims to ensure transparency and fairness in rental agreements for charitable gaming activities.

Statutes affected:
SB487 Original: 4:715(A)(7), 4:719(B)