VETT Act

Bill: 118-hr-1432
Sponsor: Rep. Wenstrup, Brad R. [R-OH-2]
Introduced: 2023-03-07 in the House
Policy area: Taxation
Subjects: Charitable contributions
Income tax deductions
Veterans' organizations and recognition

Summary:
action_date: 2023-03-07
text: 
 
VSO Equal Tax Treatment Act or the VETT Act 

 
This bill expands the deductibility of charitable contributions to all federally-chartered tax-exempt organizations serving current and former members of the Armed Forces.

action_date: 2024-01-18
text: 

VSO Equal Tax Treatment Act or the VETT Act 

 
This bill expands the deductibility of charitable contributions to all federally-chartered tax-exempt organizations serving current and former members of the Armed Forces.

action_date: 2024-12-12
text: 

VSO Equal Tax Treatment Act or the VETT Act

This act allows a tax-exempt veterans' organization to receive tax deductible charitable contributions for tax years beginning after 2024, provided that the organization is a federally chartered organization. Further, the act limits the deduction for such contributions to 60% of the donor’s adjusted gross income.

Generally, a veterans' organization may be exempt from federal income tax provided that, among other requirements, at least 75% of its members are past or present members of the Armed Forces. However, to be eligible to receive tax deductible charitable contributions, the Internal Revenue Service requires that at least 90% of a tax-exempt veteran organization’s members must be wartime veterans. Charitable contributions made to a veterans' organization that does not meet this 90% threshold may be subject to federal income tax. 

This act allows a tax-exempt veterans' organization to receive tax deductible charitable contributions for tax years beginning after 2024, provided that the organization is a federally chartered organization.

The act also provides that, for tax years beginning after 2024, the deduction for charitable contributions made to a tax-exempt veterans' organization that is federally chartered is limited to 60% of the donor’s adjusted gross income, rather than the lower limits that apply to other types of charitable contributions.


Legislative actions:
action_date: 2024-12-12
text: Became Public Law No: 118-146.
action_date: 2024-12-12
text: Became Public Law No: 118-146.
action_date: 2024-12-12
text: Signed by President.
action_date: 2024-12-12
text: Signed by President.
action_date: 2024-12-10
text: Presented to President.
action_date: 2024-12-10
text: Presented to President.
action_date: 2024-12-05
text: Message on Senate action sent to the House.
action_date: 2024-12-04
text: Passed Senate without amendment by Voice Vote. (consideration: CR S6823)
action_date: 2024-12-04
text: Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
action_date: 2024-09-18
text: Received in the Senate, read twice.
action_date: 2024-09-17
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2024-09-17
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5272)
action_date: 2024-09-17
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5272)
action_date: 2024-09-17
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 1432.
action_date: 2024-09-17
text: Considered under suspension of the rules. (consideration: CR H5272-5273)
action_date: 2024-09-17
text: Mr. Smith (MO) moved to suspend the rules and pass the bill, as amended.
action_date: 2024-01-18
text: Placed on the Union Calendar, Calendar No. 286.
action_date: 2024-01-18
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-351.
action_date: 2024-01-18
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-351.
action_date: 2023-11-30
text: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 0.
action_date: 2023-11-30
text: Committee Consideration and Mark-up Session Held
action_date: 2023-03-07
text: Referred to the House Committee on Ways and Means.
action_date: 2023-03-07
text: Introduced in House
action_date: 2023-03-07
text: Introduced in House

Enacted as: number: 118-146