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S.F. No. 3459 - Lawful Gambling Lawful Purpose Definition Modification
 
Author: Senator Mark W. Koran
 
Prepared By: Stephanie James, Senate Counsel (651/296-0103)
 
Date: March 9, 2020



 

SF 3459 adds two expenses to the list of lawful purposes that a licensed organization conducting lawful gambling is allowed to pay for from money collected from gambling activities: 

(1) an expenditure related to the performance of a financial audit, that is required annually by law for organizations with gross receipts over a threshold amount, or may be required by law at the discretion of the commissioner for organizations with gross receipts below the threshold; and

(2) an expenditure related to maintenance of an “honesty” bond, required by law, conditioned on the faithful performance of the gambling manager’s duties.

 

 
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