We have received text from S. 4497: Tax Relief for First Responder Beneficiaries Act. This bill was received on 2026-05-12, and currently has 1 cosponsor.
Here is a short summary of the bill:
This bill, titled the Tax Relief for First Responder Beneficiaries Act , proposes amendments to the Internal Revenue Code to provide tax relief related to benefits for public safety officers, including police officers, firefighters, and other emergency responders, as well as their beneficiaries. The key changes in the bill include:
Exclusion of Certain Compensation
The bill aims to modify the existing tax code under section 104(a)(6) relating to public safety officers' benefits. Specifically, it seeks to change the language from "surviving dependents" to "surviving beneficiaries." This means that a wider range of beneficiaries may be eligible to receive tax relief on certain compensation received upon the death of a public safety officer.
Survivor Annuity Benefits
Additionally, the bill amends section 101(h)(1) of the tax code. Currently, the survivor annuity benefits are available primarily to the children of public safety officers. The amendment would expand this to include "a child or a beneficiary of any life insurance policy or benefit plan of such officer." This adjustment allows for greater flexibility in who may receive these benefits, thereby extending support to a broader base of individuals connected to the public safety officers.
Effective Date
The amendments presented in this bill would take effect for taxable years beginning after December 31, 2022. This implies that the changes will impact tax filings starting in the year 2023 and onwards.
Overall Impact
By broadening the definitions related to beneficiaries and survivor annuity benefits, the bill intends to alleviate the tax burden on families of public safety officers who have passed away in the line of duty. The measure is aimed at providing financial relief to ensure that beneficiaries have appropriate support in the wake of their loss.
Relevant Companies
None found.
Senator Kirsten E. Gillibrand Bill Proposals
Here are some bills which have recently been proposed by Senator Kirsten E. Gillibrand:
- S.4497: Tax Relief for First Responder Beneficiaries Act
- S.4313: HUMBLE Presidents Act
- S.4286: Senior Hunger Prevention Act of 2026
- S.4203: Voter Empowerment Act of 2026
- S.4163: Advancing Regional Quantum Hubs Act of 2026
- S.3958: Puerto Rico Nutrition Assistance Fairness Act
You can track bills proposed by Senator Kirsten E. Gillibrand on Quiver Quantitative's politician page for Gillibrand.
Senator Kirsten E. Gillibrand Net Worth
Quiver Quantitative estimates that Senator Kirsten E. Gillibrand is worth $1.1M, as of May 14th, 2026. This is the 319th highest net worth in Congress, per our live estimates.
Gillibrand has approximately $0 invested in publicly traded assets which Quiver is able to track live.
You can track Senator Kirsten E. Gillibrand's net worth on Quiver Quantitative's politician page for Gillibrand.
2030 New York US Senate Election
There has been approximately $8,623,610 of spending in New York US Senate elections over the last two years, per our estimates.
Approximately $59,448 of this has been from outside spending by PACs and Super PACs.
You can track this election on our matchup page for the 2030 New York US Senate election.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
