Rule 109:1-4-21 | Distributing net profit from proceeds of sale of instant bingo.
For purposes of division (A)(1)(a) and (A)(1)(b) of section 2915.101 of the Revised Code, two hundred fifty thousand dollars shall be replaced with three hundred thirty thousand dollars, as follows:
(A)
(1) If a veteran's organization, a fraternal organization, or a sporting organization conducted the instant bingo or electronic instant bingo, the organization shall distribute the net profit from the proceeds of the sale of instant bingo or electronic instant bingo, as follows:
(a) For the first three hundred thirty thousand dollars or less of net profit from the proceeds of the sale of instant bingo or electronic instant bingo generated in a calendar year:
(i) At least twenty-five per cent shall be distributed to an organization described in division (V)(1) of section 2915.01 of the Revised Code or to a department or agency of the federal government, the state, or any political subdivision.
(ii) Not more than seventy-five per cent may be deducted and retained by the organization for reimbursement of or for the organization's expenses, as defined in division (GG) of section 2915.01 of the Revised Code, in conducting the instant bingo or electronic instant bingo game.
(b) For any net profit from the proceeds of the sale of instant bingo or electronic instant bingo of more than three hundred thirty thousand dollars:
(i) A minimum of fifty per cent shall be distributed to an organization described in division (V)(1) of section 2915.01 of the Revised Code or to a department or agency of the federal government, the state, or any political subdivision.
(ii) Five per cent may be distributed for the organization's own charitable purposes or to a community action agency.
(iii) Forty-five per cent may be deducted and retained by the organization for reimbursement of or for the organization's expenses, as defined in division (GG) of section 2915.01 of the Revised Code, in conducting the instant bingo or electronic instant bingo game.
(2) If a veteran's organization, a fraternal organization, or a sporting organization does not distribute the full percentages specified in paragraphs (A)(1)(a) and (A)(1)(b) of this rule for the purposes specified in those paragraphs, the organization shall distribute the balance of the net profit from the proceeds of the sale of instant bingo or electronic instant bingo not distributed or retained for those purposes to an organization described in division (V)(1) of section 2915.01 of the Revised Code.
Last updated November 1, 2023 at 8:24 AM
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