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House Bill 1432
118th Congress(2023-2024)
VETT Act
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Passed House on Sep 17, 2024
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H. R. 1432 (Introduced-in-House)


118th CONGRESS
1st Session
H. R. 1432


To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.

IN THE HOUSE OF REPRESENTATIVES

March 7, 2023

Mr. Wenstrup (for himself and Mr. Panetta) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “VSO Equal Tax Treatment Act” or as the “VETT Act” .

SEC. 2. Deductibility of charitable contributions to certain organizations for members of the Armed Forces.

(a) In general.—

(1) DEFINITION OF A CHARITABLE CONTRIBUTION.—Section 170(c) of the Internal Revenue Code of 1986 is amended by inserting after paragraph (5) the following new paragraph:

“(6) An organization described in section 501(c)(19) that is a federally chartered corporation.”.

(2) PERCENTAGE LIMITATION.—Section 170(b)(1)(A) of the Internal Revenue Code of 1986 is amended by striking “or” at the end of clause (viii), by adding “or” at the end of clause (ix), and by inserting after clause (ix) the following new clause:

“(x) an organization described in section 501(c)(19) that is a federally chartered corporation,”.

(b) Effective date.—The amendments made by this section shall apply with respect to taxable years beginning after the date of enactment of this Act.