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HR 2786 109th Congress House

Art and Collectibles Capital Gains Tax Treatment Parity Act

Official title: To amend the Internal Revenue Code of 1986 to provide the same capital gains treatment for art and collectibles as for other investment property and to provide… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to provide the same capital gains treatment for art and collectibles as for other investment property and to provide that a deduction equal to fair market value shall be allowed for charitable contributions of literary, musical, artistic, or scholarly compositions created by the donor.

Introduced: June 7, 2005 See on congress.gov
Taxation ArtArts, Culture, ReligionCapital gains taxCharitable contributions
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Income taxLiteratureMusicTax deductionsTax rates
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 7, 2005
Referred to the House Committee on Ways and Means.
Jun 7, 2005
Introduced in House
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 Latest action June 7, 2005

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to: (1) eliminate the 28-percent capital gains tax rate for collectibles, thus allowing gain from the sale of collectibles (including art works) to be taxed at the 15-percent tax rate applicable to other investment property; (2) allow the creator of a literary, musical, artistic, or scholarly property a fair market value tax deduction for the donation of such property to a tax-exempt organization, if properly appraised and donated no sooner than 18 months after its creation.

 Related & companion bills 3
  • HR 1120 Related bill Artists' Contribution to American Heritage Act of 2005
  • S 1186 Identical bill Art and Collectibles Capital Gains Tax Treatment Parity Act
  • S 372 Related bill Artist-Museum Partnership Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Thompson, Mike
California · Jun 7, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2786: Art and Collectibles Capital Gains Tax Treatment Parity Act. 109th Congress. Open America. https://openamerica.io/bill/109-HR-2786/
MLA
"H.R. 2786: Art and Collectibles Capital Gains Tax Treatment Parity Act." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-2786/.
Bluebook (legal)
H.R. 2786, 109th Cong. (2026), https://openamerica.io/bill/109-HR-2786/.
Markdown link
[H.R. 2786: Art and Collectibles Capital Gains Tax Treatment Parity Act](https://openamerica.io/bill/109-HR-2786/)
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