(a) In general
Section 85 of the Internal Revenue Code of 1986 is amended by striking subsection (c) and inserting the following new subsection:
(c) Termination of inclusion in gross income
This section shall not apply to taxable years beginning after December 31, 2024.
(b) Effective date
The amendment made by this section shall apply to amounts received after December 31, 2024, in taxable years ending after such date.