United States Peace Tax Fund Act

United States Peace Tax Fund Act - Amends the Internal Revenue Code to permit conscientious objectors to designate their income, estate, or gift tax payments for nonmilitary purposes. Establishes within the Treasury a United States Peace Tax Fund (Fund) to receive such tax payments.

Makes these tax designation procedures available to any individual who by reason of religious training and belief is opposed to participation in war in any form and either: (1) has been exempted from combat training and service in the armed forces under the Military Selective Service Act; or (2) satisfactorily demonstrates conscientious objection to war in any form. Authorizes the Secretary of the Treasury to deny such status to a taxpayer upon a finding that the taxpayer is not entitled to make such a designation. Allows a taxpayer to challenge such a denial by bringing an action in the United States Tax Court or in U.S. district court for a declaratory judgment as to whether the taxpayer is an eligible individual for purposes of such designation.

Requires that each publication of general instructions accompanying income tax returns include specified information about the Fund, including the purposes of the Fund and the criteria governing one's eligibility to designate tax payments for such Fund.

Requires every taxpayer who makes such a designation for any taxable year to file a questionnaire return during such year for the purpose of determining whether the taxpayer is an eligible individual. Permits the setting aside of criminal or civil penalties imposed upon a taxpayer for nonpayment of tax prior to 1988 if the taxpayer pays the tax due (with interest) and establishes to the satisfaction of the Secretary of the Treasury that the nonpayment was due to religious beliefs.

Directs the Comptroller General to determine the percentage of actual appropriations made by the United States from the Federal budget during the preceding year for military purposes. Requires the publication of such information in the Congressional Record.

Establishes a United States Peace Tax Fund Board of Trustees to distribute funds for eligible nonmilitary activities and research. Sets forth the Board's membership structure and its duties. Directs the Board to publish regulations to govern applications for funds. Includes as activities qualified for funding: (1) research directed toward developing nonviolent solutions to international conflict; (2) disarmament efforts; (3) special projects of the United States Institute of Peace; (4) improvement of international health, education, and welfare; and (5) retraining of workers displaced by conversion from military production activities.

Authorizes appropriations.