1. Deduction for investment advisory expenses of certain funeral and cemetery trusts allowed during suspension of miscellaneous itemized deductions (a) In general Section 67(g) of the Internal Revenue Code of 1986 is amended— (1) by striking Notwithstanding and inserting the following: (1) In general Notwithstanding , and (2) by adding at the end the following new paragraph: (2) Deduction for investment advisory expenses of certain funeral and cemetery trusts allowed during suspension In the case of any qualified funeral trust (as defined in section 685(b)) or cemetery perpetual care fund (described in section 642(i) and meeting the requirements of paragraphs (1) and (2) thereof), subsection (a) and paragraph (1) of this subsection shall not apply to any deduction allowed for investment advisory expenses for a taxable year beginning after December 31, 2023, and before January 1, 2030. . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2023. 2. Special rule for distributions by cemetery perpetual funds indexed to inflation (a) In general Section 642(i) of the Internal Revenue Code of 1986 is amended to read as follows: (i) Certain distributions by cemetery perpetual care funds (1) In general In the case of a cemetery perpetual care fund which— (A) was created pursuant to local law by a taxable cemetery corporation for the care and maintenance of cemetery property, and (B) is treated for the taxable year as a trust for purposes of this subchapter, any amount distributed by such fund for the care and maintenance of gravesites which have been purchased from the cemetery corporation before the beginning of the taxable year of the trust and with respect to which there is an obligation to furnish care and maintenance shall be considered to be a distribution solely for purposes of sections 651 and 661, but only to the extent that the aggregate amount so distributed during the taxable year does not exceed $25 multiplied by the aggregate number of such