Section 2004.007 - Reasonable Operating Expenses(a) For each raffle conducted under this chapter, a professional sports team charitable foundation may deduct not more than 10 percent of the gross proceeds collected from the sale of tickets for the raffle to pay the reasonable operating expenses of conducting the raffle.(b) For purposes of this chapter, reasonable operating expenses include: (1) promotion, advertisements, charitable foundation fund-raising events, equipment, and administrative expenses; and(2) purchase, lease, or licensing fees for the equipment, hardware, and software necessary to: (A) sell raffle tickets to raffle participants;(B) conduct random drawings to select prize winners; and(C) continuously calculate the number of ticket sales, amount of money collected, amount of cash prize to be awarded, amount of money raised for charitable purposes, and amount of gross ticket sales that may be deducted for reasonable operating expenses.Tex. Occ. Code § 2004.007
Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 47,Sec. 1, eff. 1/1/2016 if the constitutional amendment proposed by the 84th Legislature, Regular Session, 2015, authorizing the legislature to permit professional sports team charitable foundations to conduct charitable raffles is approved by the voters.