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S 374 110th Congress Senate Taxation Art Arts, Culture, Religion Capital gains tax Charitable contributions Income tax Literature Music Tax deductions Tax rates

Art and Collectibles Capital Gains Tax Treatment Parity Act

Introduced: January 24, 2007 See on congress.gov
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 24, 2007
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1060-1061)
Jan 24, 2007
Sponsor introductory remarks on measure. (CR S1059-1060)
Jan 24, 2007
Introduced in Senate
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 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.

What's happening now January 24, 2007

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1060-1061)

 Related & companion bills 2
  • HR 1524 Related bill Artist-Museum Partnership Act
  • S 548 Related bill Artist-Museum Partnership Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Crapo, Mike
Idaho · Jan 24, 2007
 D
Schumer, Charles E.
New York · Jan 24, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). S. 374: Art and Collectibles Capital Gains Tax Treatment Parity Act. 110th Congress. Open America. https://openamerica.io/bill/110-S-374/
MLA
"S. 374: Art and Collectibles Capital Gains Tax Treatment Parity Act." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-374/.
Bluebook (legal)
S. 374, 110th Cong. (2026), https://openamerica.io/bill/110-S-374/.
Markdown link
[S. 374: Art and Collectibles Capital Gains Tax Treatment Parity Act](https://openamerica.io/bill/110-S-374/)
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