Veteran Headstone Honor Act
Sponsored By: Representative Lawler, Michael [R-NY-17]
Introduced
Summary
This bill would create a new veteran headstone medallion tax credit. It would let taxpayers who own and operate private cemeteries claim a credit for costs of attaching a veteran headstone medallion to a headstone or marker.
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- Private cemetery owners could claim a nonrefundable credit equal to the qualified costs of attaching veteran headstone medallions to headstones and markers on property they own and operate.
- To claim it, taxpayers must certify to the Secretary that the medallion was attached and provide an itemized statement of those expenditures. The Secretary will prescribe regulations in consultation with the Secretary of Veterans Affairs.
- The credit is added to the General Business Credit rules and an elective payment option is included under the tax code.
- The credit would apply to expenses paid or incurred after the date of enactment.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Tax credit for private cemetery owners
If you own and operate a private cemetery, you would be able to claim a new nonrefundable business tax credit. The credit would equal qualified spending to attach veteran headstone medallions to headstones or markers. You would need to certify to the Secretary that the medallion was attached and provide an itemized statement of the expenditures. The credit would count as part of the general business credit and would be eligible for elective payment under section 6417(b). This would apply to expenses paid or incurred after the date of enactment, and the Secretary would issue implementing regulations in consultation with the Secretary of Veterans Affairs.
Sponsors & CoSponsors
Sponsor
Lawler, Michael [R-NY-17]
NY • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov