Holocaust Restitution Tax Fairness Act of 2002

The Holocaust Restitution Tax Fairness Act of 2002 ensures that restitution payments received by survivors of the Holocaust and their heirs remain permanently exempt from federal income tax. This law specifically applies to individuals who were persecuted by Nazi Germany or other Axis regimes based on their race, religion, physical or mental disability, or sexual orientation. By removing a previously scheduled expiration date for this tax exemption, the bill guarantees that these compensatory payments will never be treated as taxable income under the Internal Revenue Code.