This bill provides tax relief to families of public safety officers, including police, firefighters, and other first responders, who die in the line of duty. The legislation amends the tax code to allow death benefits and survivor annuities received by the families of deceased first responders to be excluded from federal income taxation. Specifically, it broadens the definition of who can receive these tax-free benefits to include all surviving beneficiaries rather than just dependents, and it expands coverage to include benefits from life insurance policies and benefit plans associated with the officer. The changes apply retroactively to taxable years beginning after December 31, 2022, meaning families could potentially claim refunds for recent tax years. The bill has no specified new federal funding requirements, as it reduces tax revenue through expanded exclusions for an existing category of tax-exempt income.
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