A raffle may be conducted by a charitable foundation that: is exempt from taxation under § 501(c)(3) of the Internal Revenue Code; is affiliated with a professional football team that plays its home games in Prince George’s County; and has an office and conducts operations in Prince George’s County. Before conducting a raffle, a charitable foundation shall obtain a written permit from the designated county agency. Before issuing a permit, the designated county agency shall ascertain the character of the applicant to determine if the permit should be issued. A permit issued to a charitable foundation may not be transferred. The designated county agency shall set a fee for issuance of a permit. There is no limit on the number of permits that the designated county agency may issue in a year. The charitable foundation conducting a raffle may: set the price of raffle tickets; and subject to paragraph (2) of this subsection, award prizes in any amount in money or in merchandise. The amount of a cash award or the retail cash equivalent of a merchandise award may not exceed 50% of the proceeds of a raffle. The proceeds of a raffle shall be used to: benefit the residents of Prince George’s County; pay for prizes awarded to winners; and pay for reasonable costs for necessary equipment and supplies. Proceeds of a raffle may not be used to help cover costs involved in conducting the raffle, including any compensation to ticket sellers or individuals who operate the raffle. A raffle shall be held in conjunction with a specific professional football game played in Prince George’s County. A permit to hold a raffle is valid for not more than 24 hours. All raffle tickets shall be sold and received: on property owned or under the control of the professional football team with which the charitable foundation is affiliated; and may not be sold on the Internet or otherwise to an individual not physically present on the property. On or before March 30 of each year, the charitable foundation shall send to the designated county agency a report detailing the amount and disposition of the money raised by raffles in the previous calendar year.