By Mr. Petersen of Marblehead, petition (accompanied by bill, House, No. 3069) of Douglas W. Petersen and others for legislation to provide an income tax deduction for losses caused by theft or fraud.  Revenue.

The Commonwealth of Massachusetts

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PETITION OF:

Douglas W. Petersen

David Paul Linsky

Brian A. Joyce

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In the Year Two Thousand and Seven.

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An Act relative to certain income tax deduction.

    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 subparagraph:–

   (14)  An amount equal to the value of any theft or fraud. If the amount exceeds the taxable income such excess may be carried over to the following taxable year or years