HR 1285 98th Congress House Taxation Art objects Arts, Culture, Religion Charitable contributions Income tax Literature Music National treasures Public Welfare and Charities Tax deductions

National Heritage Resource Act of 1983

Introduced: February 7, 1983 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 7, 1983

Referred to House Committee on Ways and Means.

Feb 7, 1983

Introduced in House

Plain-English summary Congressional Research Service

National Heritage Resource Act of 1983 - Amends the Internal Revenue Code to allow creators of artistic properties an income tax deduction for the current fair market value of literary, musical, or artistic compositions which they contribute to charitable organizations. Requires: (1) that the artistic property be created by the taxpayer at least one year prior to the time of such contribution; (2) that the fair market value of such property be appraised within one year of the date of contribution; and (3) that the donee of such property show that the use of the property will be related to the charitable purpose or function of his organization.

Denies a fair market value deduction for contributions of any letter, memorandum, or similar property produced by a Federal or State employee which arose out of the performance of such employee's official duties.

Exempts such fair market value deduction from the application of the minimum tax.

What's happening now February 7, 1983

Referred to House Committee on Ways and Means.

Committees of jurisdiction 1