A bill to recognize the special relationship between Congress and organizations of war veterans, to amend the Internal Revenue Code of 1954 to provide that a limit on the tax exempt status of such organizations shall apply only if such organizations engage in substantial lobbying on issues unrelated to veterans affairs, the armed forces, or national defense, and for other purposes.
Veterans' Organizations Tax Reform Act - Amends the Internal Revenue Code to provide that an organization of war veterans shall not be exempt from taxation if a substantial part of its activities consists of carrying on propaganda, or otherwise attempting to influence legislation with respect to matters not related to veterans affairs. Disallows estate, gift, and income tax deductions for charitable contributions to veterans' organizations disqualified for a tax exemption under the provisions of this Act.
Defines "veterans affairs" as issues directly relating to: (1) programs and benefits for veterans and the surviving spouses and children of veterans; and (2) the armed forces of the United States and national defense.
See H.R.4961.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB; Treasury Department; Defense Department.
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