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I
116TH CONGRESS
2D SESSION
H. R. 6856
To amend the Internal Revenue Code of 1986 is amended to allow a deduction
for investment advisory expenses of certain funeral and cemetery trusts
during suspension of miscellaneous itemized deductions.
IN THE HOUSE OF REPRESENTATIVES
MAY 13, 2020
Ms. SA´NCHEZ (for herself and Mr. FERGUSON) introduced the following bill;
which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 is amended
to allow a deduction for investment advisory expenses
of certain funeral and cemetery trusts during suspension
of miscellaneous itemized deductions.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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•HR 6856 IH
SECTION 1. DEDUCTION FOR INVESTMENT ADVISORY EX-
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PENSES OF CERTAIN FUNERAL AND CEME-
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TERY TRUSTS ALLOWED DURING SUSPEN-
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SION OF MISCELLANEOUS ITEMIZED DEDUC-
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TIONS.
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(a) IN GENERAL.—Section 67(g) of the Internal Rev-
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enue Code of 1986 is amended—
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(1) by striking ‘‘Notwithstanding’’ and insert-
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ing the following:
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‘‘(1) IN GENERAL.—Notwithstanding’’, and
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(2) by adding at the end the following new
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paragraph:
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‘‘(2) DEDUCTION FOR INVESTMENT ADVISORY
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EXPENSES OF CERTAIN FUNERAL AND CEMETERY
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TRUSTS
ALLOWED
DURING
SUSPENSION.—In the
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case of any qualified funeral trust (as defined in sec-
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tion 685(b)) or cemetery perpetual care fund (de-
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scribed in section 642(i) and meeting the require-
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ments of paragraphs (1) and (2) thereof), subsection
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(a) and paragraph (1) of this subsection shall not
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apply to any deduction allowed for investment advi-
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sory expenses for a taxable year beginning after De-
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cember 31, 2019, and before January 1, 2026.’’.
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•HR 6856 IH
(b) EFFECTIVE DATE.—The amendments made by
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this section shall apply to taxable years beginning after
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December 31, 2019.
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