HR 1432 118th Congress House Taxation Charitable contributions Income tax deductions Veterans' organizations and recognition

VETT Act

Introduced: March 7, 2023 See on congress.gov

Everywhere this bill has been 19 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 12, 2024

Became Public Law No: 118-146.

Dec 12, 2024

Signed by President.

Dec 10, 2024

Presented to President.

Dec 5, 2024

Message on Senate action sent to the House.

Dec 4, 2024

Passed Senate without amendment by Voice Vote. (consideration: CR S6823)

Dec 4, 2024

Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.

Sep 18, 2024

Received in the Senate, read twice.

Sep 17, 2024

Motion to reconsider laid on the table Agreed to without objection.

Sep 17, 2024

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5272)

Sep 17, 2024

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)

Sep 17, 2024

DEBATE - The House proceeded with forty minutes of debate on H.R. 1432.

Sep 17, 2024

Considered under suspension of the rules. (consideration: CR H5272-5273)

Sep 17, 2024

Mr. Smith (MO) moved to suspend the rules and pass the bill, as amended.

Jan 18, 2024

Placed on the Union Calendar, Calendar No. 286.

Jan 18, 2024

Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-351.

Nov 30, 2023

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 0.

Nov 30, 2023

Committee Consideration and Mark-up Session Held

Mar 7, 2023

Referred to the House Committee on Ways and Means.

Mar 7, 2023

Introduced in House

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Plain-English summary Congressional Research Service

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.

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.

What's happening now December 12, 2024

Became Public Law No: 118-146.

Related & companion bills 1

Bill text 6 versions