S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
April 19, 2013
Introduced by Sen. ADDABBO -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations -- recommitted to the Committee on Investigations and
Government Operations in accordance with Senate Rule 6, sec. 8 --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
AN ACT to amend the tax law, in relation to allowing the subtraction
from adjusted gross income of gambling losses incurred during a taxa-
ble year for state personal income tax purposes
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subsection (c) of section 612 of the tax law is amended by
adding a new paragraph 41 to read as follows:
(41) GAMBLING LOSSES INCURRED DURING A TAXABLE YEAR.
S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2014.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.