Texas § OC.2004.007 - REASONABLE OPERATING EXPENSES
Full text of Texas The Texas Constitution § OC.2004.007 — REASONABLE OPERATING EXPENSES, with citation guidance and answers to common questions.
§ OC.2004.007. REASONABLE OPERATING EXPENSES
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. Added by Acts 2015, 84th Leg., R.S., Ch. 47 (H.B. 975 ), Sec. 1, eff. January 1, 2016.
Frequently Asked Questions About Texas § OC.2004.007
What does The Texas Constitution § OC.2004.007 cover?
Section OC.2004.007 ("REASONABLE OPERATING EXPENSES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § OC.2004.007?
A common citation format is "The Texas Constitution § OC.2004.007" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § OC.2004.007 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.