The bill amends the New Mexico Bingo and Raffle Act to exempt certain raffles from its regulations. Specifically, it introduces a new provision stating that raffles held for fundraising purposes by tax-exempt service, educational, athletic, or extracurricular organizations that primarily serve youth aged eighteen and younger are not subject to the Act. This exemption aims to facilitate fundraising efforts for organizations that benefit young people.

Additionally, the bill clarifies existing exemptions by maintaining that no raffle with an individual prize exceeding $75,000 can be held without prior notification to the board. The effective date for the provisions of this act is set for July 1, 2025.

Statutes affected:
introduced version: 60-2F-26