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Tax deductions for funeral and cemetery trusts; inflation adjustment for care funds.

This bill amends tax laws to benefit trusts managing funeral and cemetery services. It allows them to deduct investment advisory expenses, potentially reducing their tax burden. Additionally, the distribution limit for grave maintenance will be adjusted annually for inflation, which could ensure better financial conditions for these services in the future.
Key points
Funeral and cemetery trusts can deduct investment advisory expenses from their taxes for years 2022-2027, potentially lowering their costs.
The distribution limit for grave maintenance by cemetery perpetual care funds will be automatically adjusted for inflation starting in 2023.
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Additional Information
Print number: 117_HR_8020
Sponsor: Rep. Sánchez, Linda T. [D-CA-38]
Process start date: 2022-06-09
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to allow a deduction for investment advisory expenses of certain funeral and cemetery trusts during suspension of miscellaneous itemized deductions, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8020.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-06-09.

What are the main provisions?

Key points include:

  • Funeral and cemetery trusts can deduct investment advisory expenses from their taxes for years 2022-2027, potentially lowering their costs.
  • The distribution limit for grave maintenance by cemetery perpetual care funds will be automatically adjusted for inflation starting in 2023.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sánchez, Linda T. [D-CA-38].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Taxes