A bill to amend the Internal Revenue Code of 1954 to provide that, for purposes of the Federal estate tax, amounts contributed to certain cemetery companies may be deducted from the gross estate.

Amends the Internal Revenue Code to allow as a deduction from the gross estate for purposes of determining the taxable estate the amount of all bequests, legacies, devises, or transfers to a non-profit: (1) cemetery company operated exclusively for the benefit of its members; or (2) corporation chartered solely for burial purposes as a cemetery corporation and not permitted to engage in any business not incidental to such purpose.