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US HB7087

Bill

Official Source

Status

Introduced

1/15/2026

Primary Sponsor

Nathaniel Moran

Click for details

Origin

House of Representatives

119th Congress

AI Summary

  • Amends Internal Revenue Code Section 2055(a) to allow estate tax deductions for transfers to nonprofit cemetery companies operated exclusively for members' benefit
  • Amends Section 2522 to permit gift tax deductions for donations to qualifying cemeteries by both U.S. residents and nonresidents
  • Qualifying cemeteries must be nonprofit, member-owned, chartered solely for burial purposes, with no earnings benefiting private shareholders
  • Allows private foundations to count distributions to qualifying cemeteries toward required income distribution without incurring excise taxes under Sections 4942 and 4945
  • Effective for taxable years beginning after enactment (estate/gift provisions) and distributions made after enactment (foundation provisions)

Legislative Description

Grave Injustice Parity Act

Last Action

Referred to the House Committee on Ways and Means.

1/15/2026

Committee Referrals

Ways And Means1/15/2026

Full Bill Text

No bill text available