Grave Injustice Parity Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the Grave Injustice Parity Act, amends the Internal Revenue Code to allow deductions for transfers made to certain cemeteries. Specifically, it expands the definition of qualifying cemeteries to include organizations operated exclusively for the benefit of their members or chartered solely for burial purposes without engaging in unrelated business activities. It also addresses tax implications for private foundations making distributions to these cemeteries and clarifies deductions for gifts and estate transfers.
Key provisions
- Allows deductions for transfers to cemeteries operated exclusively for members or solely for burial purposes.
- Expands the definition of a ‘qualified cemetery’ for tax purposes.
- Addresses tax implications for private foundations distributing income to cemeteries.
- Clarifies deductions for gifts to cemeteries.
- Clarifies deductions for transfers from estates to cemeteries.
Who is affected
- Estate planning professionals
- Cemetery operators
- Taxpayers making gifts or transfers to cemeteries
- Private foundations
- Taxpayers
Notable changes
- Expands the types of cemeteries eligible for deductions.
- Addresses tax treatment of distributions from private foundations to cemeteries.
- Clarifies the requirements for qualifying cemeteries.
Bill text
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Sponsors
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4 on record
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Cosponsors
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