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S.F. No. 3628 - Lawful Gambling Organizations Audit Amounts Adjustment Authorization
 
Author: Senator Julie A. Rosen
 
Prepared By: Stephanie James, Senate Counsel (651/296-0103)
 
Date: March 9, 2020



 

Under current law, charitable organizations licensed to conduct lawful gambling are required to have annual financial audits of lawful gambling activities if their gross receipts exceed $750,000 in a year.  The commissioner of the Gambling Control Board may require organizations with gross receipts below that threshold to perform a financial audit.

Sf 3628 increases the threshold to trigger a required annual audit to $1,250,000. 

 
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