The bill amends the Code of West Virginia to allow institutions of higher education and charitable organizations to conduct online raffles as a fundraising method without requiring a license under specific conditions. It permits these institutions to hold online raffles if they have been established for at least one year, with a maximum prize limit of $4,000 and total gross proceeds not exceeding $15,000 per calendar year. The legislation also eliminates the requirement for online raffle licensees to utilize geo-location technology and maintain servers within the state, clarifying that online raffles do not fall under the category of sports or interactive wagering activities.

Additionally, the bill outlines the licensing process, establishing a fee structure for annual and limited occasion licenses, and provides tax exemptions for participating organizations. It specifies that reasonable expenses related to online raffles can be deducted from gross proceeds, capped at 40%, and mandates that net proceeds be used for charitable purposes within one year of the license's expiration. The Tax Commissioner is empowered to disapprove unreasonable contracts or leases, and licensees may seek permission to modify their expenditure plans if they cannot meet the requirements. Overall, the bill aims to simplify the fundraising process for educational and charitable institutions while ensuring accountability in the use of raffle proceeds.