Amendment AA60-ASA1-SB55

LRBb1956/1

MES:kmg:jf

2001 - 2002 LEGISLATURE

ASSEMBLY AMENDMENT 60, TO ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 2001 SENATE BILL 55

June 29, 2001 - Offered by Representative Plale.

SB55-ASA1-AA60,1,1 At the locations indicated, amend the substitute amendment as follows:

SB55-ASA1-AA60,1,2 1. Page 735, line 20: after that line insert:

SB55-ASA1-AA60,1,3 " Section 2148i. 71.07 (5) (a) 7. of the statutes is amended to read:

SB55-ASA1-AA60,1,7 71.07 (5) (a) 7. Miscellaneous itemized deductions under the Internal Revenue Code, without regard to whether such deductions are subject to the 2% floor as described in section 67 of the Internal Revenue Code, except that the general prohibition in this subdivision does not apply to gambling losses.".

SB55-ASA1-AA60,1,8 2. Page 1403, line 9: after that line insert:

SB55-ASA1-AA60,2,2 "(1w) Inclusion of gambling losses in the itemized deductions credit. The treatment of section 71.07 (5) (a) 7. of the statutes first applies to taxable years beginning on January 1 of the year in which this subsection takes effect, except that if this subsection takes effect after July 31 the treatment of section 71.07 (5) (a) 7. of the statutes first applies to taxable years beginning on January 1 of the year following the year in which this subsection takes effect.".

SB55-ASA1-AA60,2,3 (End)