This 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 maintains existing exemptions for other types of raffles and drawings, such as those held at fairs or by qualified organizations with limited raffle occurrences. It also retains the requirement for prior notification to the board for raffles with individual prizes exceeding $75,000. The effective date for these provisions is set for July 1, 2025.

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