By Representative Hall of Westford and Senator Panagiotakos (by request), joint petition (accompanied by bill, 2940) filed at the request of Richard Ferry relative to providing an income tax deduction for losses incurred in the purchase of lottery tickets. Revenue.

The Commonwealth of Massachusetts

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PETITION OF:

Richard Ferry

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In the Year Two Thousand and Seven.

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An Act providing an income tax deduction for losses incurred in playing the Massachusetts lottery. .

    Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1.  Paragraph (a) of Part B of section 3 of chapter 62 of the General Laws, as appearing in the 2002 Official Edition, is hereby amended by adding the following paragraph:

                (14)  The amount of monetary losses equal to the monetary winnings derived from playing lottery games operated, or offered, by the lottery commission of the commonwealth of Massachusetts as reported on the taxpayer’s United States federal income tax form 1040, and in Part A of the adjusted gross income tax form of the commonwealth of Massachusetts.