HB154.html

To amend Code Section 16-12-60 of the Official Code of Georgia Annotated, relating to bingo rules and regulations, so as to change the maximum amounts which may be awarded as prizes; to repeal conflicting laws; and for other purposes.

Code Section 16-12-60 of the Official Code of Georgia Annotated, relating to bingo rules and regulations, is amended by striking subsection (f) and inserting in its place a new subsection (f) to read as follows:
"(f) It shall be unlawful to award prizes in excess of ~~$1,100.00~~ $1,300.00 in cash or gifts of equivalent value during any calendar day or ~~$2,200.00~~ $2,600.00 in cash or gifts of equivalent value during any calendar week. It shall be unlawful to exceed such limits at any combination of locations operated by a single licensee or ~~his~~ such licensee´s agents or employees. It shall be unlawful for two or more licensees to pyramid the valuation of prizes in such manner as to exceed the limits contained in this Code section. The term 'equivalent value' shall mean the fair market value of the gift on the date the gift is given as the prize in a bingo game."