VETT Act

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.

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 677 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                 S. 677

     To amend the Internal Revenue Code of 1986 to provide for the 
deductibility of charitable contributions to certain organizations for 
                      members of the Armed Forces.


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                   IN THE SENATE OF THE UNITED STATES

                             March 7, 2023

 Mr. Cassidy (for himself and Ms. Duckworth) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
     To amend the Internal Revenue Code of 1986 to provide for the 
deductibility of charitable contributions to certain organizations for 
                      members of the Armed Forces.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``VSO Equal Tax Treatment Act'' or the 
``VETT Act''.

SEC. 2. DEDUCTIBILITY OF CHARITABLE CONTRIBUTIONS TO CERTAIN 
              ORGANIZATIONS FOR MEMBERS OF THE ARMED FORCES.

    (a) In General.--
            (1) Definition of a charitable contribution.--Section 
        170(c) of the Internal Revenue Code of 1986 is amended by 
        inserting after paragraph (5) the following new paragraph:
            ``(6) An organization described in section 501(c)(19) that 
        is a federally chartered corporation.''.
            (2) Percentage limitation.--Section 170(b)(1)(A) of the 
        Internal Revenue Code of 1986 is amended by striking ``or'' at 
        the end of clause (viii), by adding ``or'' at the end of clause 
        (ix), and by adding at the end the following new clause:
                            ``(x) an organization described in section 
                        501(c)(19) that is a federally chartered 
                        corporation,''.
    (b) Effective Date.--The amendments made by this section shall 
apply with respect to taxable years beginning after the date of 
enactment of this Act.
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