S 638
107th Congress
Senate
Taxation
Agriculture and Food
Alcoholic beverages
Art objects
Arts, Culture, Religion
Authors and authorship
Books
Capital gains tax
Charitable contributions
Coins and coinage
Commerce
Copyright
Finance and Financial Sector
Gold
Government Operations and Politics
Income tax
Intellectual property
Jewelry trade
Metals
Music
Arts and Collectibles Capital Gains Tax Treatment Parity Act
Introduced: March 28, 2001
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 28, 2001
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3057-3058)
Mar 28, 2001
Sponsor introductory remarks on measure. (CR S3056-3057)
Mar 28, 2001
Introduced in Senate
Plain-English summary
Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to provide art and collectibles with capital gain rates similar to other assets held long-term. (Currently art and collectibles have a 28 percent capital gain rate.)
Establishes a (limited) fair market value deduction for qualifying literary, musical, or artistic charitable contributions created and donated by the taxpayer. (Currently such deduction is limited to the taxpayer's costs in creating the work.)
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3057-3058)
Committees of jurisdiction
1
Cosponsors
1