US SB1174 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on May 18 2017 - 25% progression, died in committee
Action: 2017-05-18 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3043)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 18 2017 - 25% progression, died in committee
Action: 2017-05-18 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3043)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Artist-Museum Partnership Act of 2017 This bill amends the Internal Revenue Code to allow taxpayers who create literary, musical, artistic, scholarly compositions, or similar property a fair market value (determined at the time of contribution) tax deduction for contributions of such properties, the copyrights thereon, or both, to certain tax-exempt organizations, if such properties are properly appraised and are donated no less than 18 months after their creation. The bill limits the amount of the deduction based upon the donor's artistic adjusted gross income, as defined by this bill.
Title
Artist-Museum Partnership Act of 2017
Sponsors
Sen. Patrick Leahy [D-VT] | Sen. Tom Udall [D-NM] | Sen. Dianne Feinstein [D-CA] |
History
Date | Chamber | Action |
---|---|---|
2017-05-18 | Senate | Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3043) |
Same As/Similar To
HB1830 (Same As) 2017-03-30 - Referred to the House Committee on Ways and Means.
Subjects
Art, artists, authorship
Books and print media
Charitable contributions
Income tax deductions
Intellectual property
Literature
Music
Tax-exempt organizations
Taxation
Books and print media
Charitable contributions
Income tax deductions
Intellectual property
Literature
Music
Tax-exempt organizations
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/1174/all-info |
Text | https://www.congress.gov/115/bills/s1174/BILLS-115s1174is.pdf |