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I am proud to announce that my bill, SB 1044, which increases the monthly limit on bingo overhead costs to $3,000 per month and makes annual adjustments based on the California Consumer Price Index (CPI), has been signed into law.
Charitable bingo games are a significant source of fundraising for many community organizations. Previously, overhead costs were limited to either 20% of the prize money or $2,000 per month, whichever was less.
While this cap was considered adequate when it was implemented in 2013, it failed to keep up with escalating costs. Changes made with SB 1044 ensure nonprofits and other community organizations maintain financial stability amid changing economic conditions.
This legislation will provide long overdue support to our charitable organizations. SB 1044 addresses one of the financial challenges they face, ultimately ensuring they can cover essential expenses and continue supporting our communities.
Bridgette Moore, Mayor of Wildomar, is active with several nonprofits and suggested this legislative proposal to me last year. She stated: “The ability of philanthropic organizations to serve their communities through bingo game programs have been threatened due to increased overheard cost. SB 1044 turns that around. I want to express my gratitude to Senator Seyarto for championing this crucial and impactful legislation.”
SB 1044 received bipartisan support and no opposition.
Thank you for this opportunity to be of service.