S. 4497 — Tax Relief for First Responder Beneficiaries Act

This section revises the exclusion from gross income for certain compensation received by public safety officers and their survivors by striking “surviving dependents” and inserting “surviving beneficiaries” in section 104(a)(6)(B) of the Internal Revenue Code. The change applies to taxable years beginning after December 31, 2022.

This section expands the tax exclusion from gross income for survivor annuities paid on behalf of public safety officers killed in the line of duty under section 101(h)(1)(A) of the Internal Revenue Code by striking “a child of such officer” and inserting “a child or a beneficiary of any life insurance policy or benefit plan of such officer.” The amendment applies to taxable years beginning after December 31, 2022.