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.

This bill allows funeral trusts and cemetery perpetual care funds to deduct investment advisory costs during the period when most miscellaneous itemized deductions are suspended (2024-2029). It specifically creates a temporary deduction for these organizations' investment advisory expenses, which would otherwise be disallowed. Additionally, it sets a $25 per grave limit for cemetery maintenance distributions (adjusted annually for inflation starting in 2025) to ensure funds are used for grave upkeep. These changes apply to taxable years beginning after December 31, 2023.