1.27/11

This week, Texas Attorney General Opinion No. GA-0837 (2011) was issued on "Valuation of a residential dwelling offered as a prize at a charitable raffle."

The Summary to the Opinion stated,

"Under the Charitable Raffling Enabling Act, the cap on the value of a residential dwelling offered or awarded as a prize at a raffle for which a qualified organization provides any consideration is $250,000, regardless of the amount of the donated and purchased items, or who donated or purchased the items, used to construct the dwelling."

To read the opinion, click on the link below.

https://www.oag.state.tx.us/opinions/opinions/50abbott/op/2011/htm/ga-0837.htm