Virginia's age-restricted communities could hold resident-only charitable bingo

A qualifying community would register with the state before holding limited bingo and would not pay application or audit fees for that activity. These rules apply to qualifying common interest communities whose housing is limited to residents age 55 or older. The community must operate under Virginia's property owners' association or condominium laws, qualify for a federal tax deduction under Section 277, and be available only to residents age 55 or older. It must reasonably expect no more than $40,000 in bingo receipts and hold bingo on no more than 12 days per calendar year. If actual receipts exceed $40,000, the community must obtain a permit and file a report. The fee exemption does not cover electronic gaming. The community must register before holding bingo. The 12-day limit and $40,000 threshold apply per calendar year.

A qualifying community would hold only state-authorized bingo, limited to its residents, and donate at least 10 percent of its gaming receipts to a tax-exempt charity. These limits apply to communities described in subdivision 18 of the definition of organization. The donation must go to an organization exempt from federal income tax under Section 501(c)(3).