Section 2002.056 - Restrictions on Prizes(a) A prize offered or awarded at a raffle may not be money.(b) Except as provided by Subsections (b-1) and (c), the value of a prize offered or awarded at a raffle that is purchased by the organization or for which the organization provides any consideration may not exceed $75,000.(b-1) The value of a residential dwelling offered or awarded as a prize at a raffle that is purchased by the organization or for which the organization provides any consideration may not exceed $750,000 . (c) A raffle prize may consist of one or more tickets in the state lottery authorized by Chapter 466, Government Code, with a face value of $75,000 or less, without regard to whether a prize in the lottery game to which the ticket or tickets relate exceeds $75,000.(d) A raffle is not authorized by this chapter unless the organization: (1) has the prize to be offered in the raffle in its possession or ownership; or(2) posts bond with the county clerk of the county in which the raffle is to be held for the full amount of the money value of the prize.Tex. Occ. Code § 2002.056
Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 338,Sec. 1, eff. 9/1/2023.Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 706,Sec. 3, eff. 6/15/2021.Amended By Acts 2005, 79th Leg., Ch. 929, Sec. 5, eff. 6/18/2005. Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. 9/1/1999.