This bill provides tax relief to beneficiaries of public safety officers, including police officers, firefighters, and other first responders who die in the line of duty. The legislation expands who can receive tax-free death benefits by broadening the definition of eligible beneficiaries from just "surviving dependents" to "surviving beneficiaries," which includes beneficiaries named in life insurance policies and benefit plans. The bill also extends tax-free treatment to survivor annuity benefits beyond just children to include other designated beneficiaries of the officer's insurance policies. Both changes apply retroactively to taxable years beginning after December 31, 2022, meaning families who received benefits during that period may be eligible for tax refunds. The bill affects families of deceased public safety officers and does not include any new federal spending.
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