North Carolina 2025 Session Status: In Committee Bipartisan · 12 R · 2 D cosponsors

HB 14 — Gambling Loss Tax Deduction, NC Sound Money Act.

Last action — Reptd Fav Com Substitute

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced January 29, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 42% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 14 sponsors

    3 primary, 11 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (12 R · 2 D) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

24 added · 63 removed

Plain-language change summary

The bill, now referred to as HB 14, has been streamlined to focus solely on allowing a state income tax deduction for gambling losses. The previous version included additional provisions related to the "North Carolina Sound Money Act," which have been removed to simplify the legislation. This change is significant because it clarifies the bill's intent and makes it easier for taxpayers to understand the new deduction available to them starting in the 2024 tax year.

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GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 H 2 HOUSE BILL 14 Committee Substitute Favorable 6/25/25 Short Title:
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 H 1 HOUSE BILL 14 Short Title:
Gambling Loss Tax Deduct, NC Sound Money Act.
Gambling Losses Tax Deduction.
Representatives Paré, Tyson, Kidwell, and Winslow (Primary Sponsors).
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
January 30, 2025 A BILL TO BE ENTITLED AN ACT TO ALLOW A STATE INCOME TAX DEDUCTION FOR GAMBLING LOSSES AND TO ENACT THE NORTH CAROLINA SOUND MONEY ACT.
Rules, Calendar, and Operations of the House January 30, 2025 A BILL TO BE ENTITLED AN ACT TO ALLOW A STATE INCOME TAX DEDUCTION FOR GAMBLING LOSSES.
SECTION 1.(a) G.S.
SECTION 1.
G.S.
The amount allowed as a deduction for wagering losses under section 165(d) of the Code, to the extent the losses are not deducted in arriving at adjusted gross income." SECTION 1.(b) This section is effective for taxable years beginning on or after January 1, 2024.
The amount allowed as a deduction for wagering losses under section 165(d) of the Code, to the extent the losses are not deducted in arriving at adjusted gross income." SECTION 2.
SECTION 2.(a) G.S.
This act is effective for taxable years beginning on or after January 1, 2024.
105-153.5 reads as rewritten:
*H14-v-1*
"§ 105-153.5.
Modifications to adjusted gross income.
… (b) Other Deductions.
– In calculating North Carolina taxable income, a taxpayer may deduct from the taxpayer's adjusted gross income any of the following items that are included in the taxpayer's adjusted gross income:
… (17) Gain or loss, to the extent the loss is not deducted in arriving at adjusted gross income, from the disposition of investment coins and investment metal bullion.
For purposes of this subdivision, the following definitions apply:
a.
Investment coins.
– Numismatic coins or other forms of money and legal tender manufactured of metal under the laws of the United States or any foreign nation with a fair market value greater than any statutory or nominal value of such coins.
b.
Investment metal bullion.
– Any elementary precious metal that has been put through a process of smelting or refining and that is in such *H14-v-2* General Assembly Of North Carolina Session 2025 state or condition that its value depends upon its content and not upon its form.
The term does not include fabricated precious metal that has been processed or manufactured for one or more specific and customary industrial, professional, or artistic uses.
…." SECTION 2.(b) This section is effective for taxable years beginning on or after January 1, 2025.
SECTION 3.(a) Article 13 of Chapter 66 of the General Statutes is amended by adding a new section to read:
"§ 66-67.6.
Commerce of investment coins and investment metal bullion.
(a) Legal Tender.
– Investment coins and investment metal bullion (i) as defined in G.S.
105-153.5(b)(17), (ii)madeofrefinedgold or silver,and(iii) stamped, marked,orimprinted with its weight and purity shall be recognized as legal tender in the State.
(b) Commerce.
– No person is required to offer or accept any recognized legal tender as described in subsection (a) of this section for payment of debts, deposit, or any other purpose.
In addition, no person incurs liability for refusing to offer or accept such legal tender, except as specifically provided for by contract or otherwise required by law." SECTION 3.(b) This section becomes effective October 1, 2025.
SECTION 4.
Except as otherwise provided, this act is effective when it becomes law.
Page 2 House Bill 14-Second Edition
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Action History

  1. Reptd Fav Com Substitute

  2. Cal Pursuant Rule 36(b)

  3. Added to Calendar

  4. Withdrawn From Cal

  5. Re-ref Com On Finance

  6. Withdrawn From Com

  7. Re-ref Com On Rules, Calendar, and Operations of the House

  8. Reptd Fav

  9. Re-ref Com On Finance

  10. Withdrawn From Com

  11. Re-ref to the Com on Commerce and Economic Development, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House

  12. Passed 1st Reading

  13. Ref To Com On Rules, Calendar, and Operations of the House

  14. Filed

Sponsors

Sponsorship breakdown

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3 sponsors · 11 co-sponsors · 165 not signed on

Sponsors (3)

Co-sponsors (11)

Not signed on (165)

165 members have not signed on to this bill.

Show all 165 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 14?
HB 14 is sponsored by Jeffrey C. McNeely (Republican), Jarrod Lowery (Republican), Chris Humphrey (Republican), Edward C. Goodwin (Republican), Wyatt Gable (Republican), Bryan Cohn (Democratic), Todd Carver (Republican), Celeste C. Cairns (Republican), Terry M. Brown Jr. (Democratic), Matthew Winslow (Republican), Keith Kidwell (Republican), Steve Tyson (Republican), Erin Paré (Republican), and Jake Johnson (Republican).
What is the current status of HB 14?
This bill is in committee in the House. Introduced January 29, 2025. It must pass committee before a floor vote.
Where can I track HB 14?
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