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S 930 112th Congress Senate

Art and Collectibles Capital Gains Tax Treatment Parity Act

Official title: A bill 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 … Show full official titleShow less

Official title: A bill 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: May 10, 2011 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
Taxation Art, artists, authorshipCapital gains taxIncome tax deductionsIncome tax rates
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LiteratureMusicSocial work, volunteer service, charitable organizations
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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
May 10, 2011
Read twice and referred to the Committee on Finance.
May 10, 2011
Introduced in Senate
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 Latest action May 10, 2011

Read twice and referred to the Committee on Finance.

 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% capital gains tax rate for collectibles, thus allowing gain from the sale of collectibles (including art works) to be taxed at the 15% tax rate applicable to other investment property; and (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 1
  • HR 1190 Related bill Artist-Museum Partnership Act of 2011
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Crapo, Mike
Idaho · May 10, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). S. 930: Art and Collectibles Capital Gains Tax Treatment Parity Act. 112th Congress. Open America. https://openamerica.io/bill/112-S-930/
MLA
"S. 930: Art and Collectibles Capital Gains Tax Treatment Parity Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-930/.
Bluebook (legal)
S. 930, 112th Cong. (2026), https://openamerica.io/bill/112-S-930/.
Markdown link
[S. 930: Art and Collectibles Capital Gains Tax Treatment Parity Act](https://openamerica.io/bill/112-S-930/)
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