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HR 4938 97th Congress House Taxation Art Art objects Arts, Culture, Religion Income tax Individual retirement accounts Tax deductions

A bill to repeal the provision added by the Economic Recovery Tax Act of 1981 which treats investments by individual retirement plans in collectibles as distributions.

Introduced: November 10, 1981 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) 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
Nov 10, 1981
Referred to House Committee on Ways and Means.
Nov 10, 1981
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to repeal the provision which treats investments by individual retirement accounts and other retirement plans in collectibles as distributions equal to the cost of the collectible. Defines "collectibles" as items such as artworks, antiques, gems and coins.

What's happening now November 10, 1981

Referred to House Committee on Ways and Means.

 Related & companion bills 2
  • HR 4418 Identical bill A bill to amend the Internal Revenue Code of 1954 to repeal the provision which prohibits individual retirement account…
  • HR 4439 Identical bill A bill to repeal the provision added by the Economic Recovery Tax Act of 1981 which treats investments by individual re…
 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4938: A bill to repeal the provision added by the Economic Recovery Tax Act of 1981 which treats investments by individual retirement plans in collectibles as distributions.. 97th Congress. Open America. https://openamerica.io/bill/97-HR-4938/
MLA
"H.R. 4938: A bill to repeal the provision added by the Economic Recovery Tax Act of 1981 which treats investments by individual retirement plans in collectibles as distributions.." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-HR-4938/.
Bluebook (legal)
H.R. 4938, 97th Cong. (2026), https://openamerica.io/bill/97-HR-4938/.
Markdown link
[H.R. 4938: A bill to repeal the provision added by the Economic Recovery Tax Act of 1981 which treats investments by individual retirement plans in collectibles as distributions.](https://openamerica.io/bill/97-HR-4938/)
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