AN ACT to increase the total appraised value of all real estate prizes offered during a calendar year by a nonprofit organization as part of a raffle.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 14‑309.15(g) reads as rewritten:

(g)      Real property may be offered as a prize in a raffle. The maximum appraised value of real property that may be offered for any one raffle is five seven hundred fifty thousand dollars ($500,000). ($750,000). The total appraised value of all real estate prizes offered by any nonprofit organization shall not exceed five seven hundred fifty thousand dollars ($500,000) ($750,000) in any calendar year. No more than three real estate prizes may be offered by any nonprofit organization in any calendar year.

SECTION 2.  This act is effective when it becomes law and applies to raffles conducted on or after that date.