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HOUSE 1432118th CongressBecame Public Law No: 118-146.

VETT Act

Last Action
12/12/2024

Actions

  • 2024-12-12Became Public Law No: 118-146.
  • 2024-12-12Became Public Law No: 118-146.
  • 2024-12-12Signed by President.
  • 2024-12-12Signed by President.
  • 2024-12-10Presented to President.
  • 2024-12-10Presented to President.
  • 2024-12-05Message on Senate action sent to the House.
  • 2024-12-04Passed Senate without amendment by Voice Vote. (consideration: CR S6823)
  • 2024-12-04Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
  • 2024-09-18Received in the Senate, read twice.
  • 2024-09-17Motion to reconsider laid on the table Agreed to without objection.
  • 2024-09-17On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5272)
  • 2024-09-17Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5272)
  • 2024-09-17DEBATE - The House proceeded with forty minutes of debate on H.R. 1432.
  • 2024-09-17Considered under suspension of the rules. (consideration: CR H5272-5273)

Showing 15 of 20 actions. Full history on Congress.gov.

CRS Summary

As of 2024-12-12 (49)

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. 

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.

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.

Cosponsors (15)

  • Jimmy Panetta (D-CA)
  • Glenn Grothman (R-WI)
  • Gregory Murphy (R-NC)
  • Carol Miller (R-WV)
  • Mike Carey (R-OH)
  • Terri Sewell (D-AL)
  • DANNY DAVIS (D-IL)
  • Jason Crow (D-CO)
  • Tony Gonzales (R-TX)
  • Salud Carbajal (D-CA)
  • Donald Davis (D-NC)
  • Patrick Ryan (D-NY)
  • James Baird (R-IN)
  • Mariannette Miller-Meeks (R-IA)
  • Brian Fitzpatrick (R-PA)

Subjects

  • Charitable contributions
  • Income tax deductions
  • Veterans' organizations and recognition

Became law: Pub. L. 118-146

Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.