This legislation aims to provide enhanced tax relief for the beneficiaries of public safety officers who die in the line of duty by amending the Internal Revenue Code of 1986. It broadens the definition of individuals eligible for tax-exempt compensation and survivor annuity benefits, ensuring more comprehensive financial support. Specifically, the bill changes the term "surviving dependents" to "surviving beneficiaries" for the exclusion of certain compensation related to death benefits. It also expands eligibility for tax-exempt survivor annuity benefits from solely "a child of such officer" to include "a child or a beneficiary of any life insurance policy or benefit plan of such officer." These amendments are designed to reduce the tax burden on a wider range of individuals receiving benefits, and both changes apply retroactively to taxable years beginning after December 31, 2022.