To amend the Internal Revenue Code of 1986 to allow a deduction for investment advisory expenses of certain funeral and cemetery trusts during suspension of miscellaneous itemized deductions, and for other purposes.

Bill 117 hr 8020, also known as the Funeral and Cemetery Trust Investment Advisory Expense Deduction Act, aims to amend the Internal Revenue Code of 1986 to allow a deduction for investment advisory expenses of certain funeral and cemetery trusts. This deduction would be permitted during the suspension of miscellaneous itemized deductions.

The bill is designed to provide financial relief to funeral and cemetery trusts by allowing them to deduct investment advisory expenses, which are currently not eligible for deduction under the tax code. This change would help these trusts better manage their finances and potentially reduce their tax burden.

In addition to allowing the deduction for investment advisory expenses, the bill also includes provisions for other purposes related to funeral and cemetery trusts. These provisions are aimed at improving the financial stability and management of these trusts. Overall, Bill 117 hr 8020 seeks to support funeral and cemetery trusts by providing them with a tax deduction for investment advisory expenses and implementing other measures to enhance their financial well-being.