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(a) A permittee that conducts bingo activity on its own behalf may award a maximum of $840,000 in bingo prizes in a calendar year. The holders of a multiple-beneficiary permit under AS 05.15.100 (d) may award a maximum in bingo prizes each year of $840,000 times the number of holders of the permit.
(b) A permittee that contracts with an operator to conduct bingo activity on the permittee's behalf may award a maximum of $660,000 in bingo prizes in a calendar year. Upon approval from the department, if a permittee terminates a contract with an operator for non-use of the permit and shows that the operator did not conduct activity under AS 05.15 for the permittee in the current calendar year, the permittee's full annual prize amount under (a) of this section is not reduced.
(c) The annual prize payout for bingo conducted under a permit issued under AS 05.15 may not exceed 85 percent of the gross receipts from bingo activity. The prize payout and gross receipts for bingo activity must be separately calculated by each permittee on a calendar year basis.
(d) A free bingo card may not be given as a bingo game prize.
(e) For purposes of this section,
(1) "prize payout" means the value of prizes awarded for bingo activity;
(2) "bingo activity" does not include the sale of ink refills, daubers, food, beverages, or similar items not directly connected to the play of bingo.
History: Eff. 7/30/94, Register 131; am 9/3/2005, Register 175
Authority: AS 05.15.060
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Last modified 7/05/2006