To amend the Internal Revenue Code of 1986 to allow taxpayers to designate overpayments of tax as contributions and to make additional contributions to the Homeless Veterans Assistance Fund, and for other purposes.
About This Bill
Committee
Latest Action · December 6, 2024
Referred to the Committee on Ways and Means, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Homeless Veterans Assistance Fund Act of 2024 creates a new mechanism for taxpayers to voluntarily support homeless veterans through the federal income tax system. Individuals can designate any portion of their tax overpayment, or make additional voluntary contributions, to a newly established Homeless Veterans Assistance Fund. The money collected will be used by the Department of Veterans Affairs, in coordination with the Department of Labor and Department of Housing and Urban Development, to fund programs and develop innovative strategies to prevent and end homelessness among veterans. Before spending any funds, the VA must submit a detailed expenditure plan to Congress at least 60 days in advance, and the three departments must report annually to Congress on how the funds were used. The bill takes effect for tax years beginning after it is enacted into law.
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