10
be denied if an organization fails to dispose of proceeds in
accordance with the provisions of the Act. Tex. Rev. Civ. Stat.
6(...continued)
organization's adjusted gross receipts from the last preceding
quarter." Tex. Admin. Code tit. 34, sec. 3.556 (1987). The term
"adjusted gross receipts" was defined as gross receipts less the
amount of prizes awarded. Id. Effective Jan. 1, 1988, the Rules
were amended. Sec. 3.556 of the Tex. Admin. Code provided:
(a) For the purposes of this section, the term
"adjusted gross receipts" means gross receipts less the
amount awarded as prizes.
(b) By the end of each quarter, each licensed
authorized organization shall disburse for charitable
purposes, an amount not less than 35 percent of the
organization's adjusted gross receipts from the last
preceding quarter, less the credits allowed under subsection
(c) of this section.
(c) The amount paid as bingo taxes for the last
preceding quarter and an amount for basic fixed expenses
equal to 2.75 percent of the gross receipts for the last
preceding quarter shall be allowed as a credit towards the
required 35 percent charitable distribution.
Effective Aug. 21, 1988, sec. 3.556 was repealed, and sec.
3.555 was adopted containing similar terms. In 1990 this
requirement was codified.
As effective Jan. 1, 1990, the Act requires that:
Before the end of each quarter, each licensed authorized
organization shall disburse for charitable purposes an
amount not less than 35 percent of the organization's
adjusted gross receipts from the last preceding quarter,
less the amount of any credits allowed by rule for bingo
gross receipts, taxes, and authorized expenses. For
purposes of this subsection, adjusted gross receipts means
gross receipts plus any consideration received from the
rental of premises for bingo by the authorized organization,
less the amount of prizes paid in the preceding quarter. If
a licensed authorized organization fails to meet the
requirements of this subsection for a quarter, the
commission in applying appropriate sanctions may consider
whether, taking into account the amount required to be
distributed during that quarter and the three preceding
quarters and the charitable distributions for each of those
quarters, the organization has distributed a total amount
sufficient to have met the 35 percent requirement for that
quarter and the three preceding quarters combined.
Tex. Rev. Civ. Stat. Ann. art. 179d, sec. 19a(k) (West 1990).
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Next
Last modified: May 25, 2011