A bill to amend the Internal Revenue Code of 1986 to exclude military bonuses from gross income.

This bill proposes an amendment to the Internal Revenue Code of 1986, aiming to provide a tax exclusion for specific military bonuses. Its primary purpose is to ensure that bonuses paid to members of the uniformed services under chapter 5 of title 37, United States Code, are not considered part of their gross income for tax purposes. The legislation achieves this by modifying subsection (a) of section 134 of the Internal Revenue Code, expanding the definition of excludable income to include these military bonuses alongside existing qualified military benefits. This change is designed to offer financial relief to service members by reducing their taxable income, and it would take effect for taxable years beginning after December 31, 2024 .