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senate Bill S. 405

Artist-Museum Partnership Act

bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Senate Committee on Finance
    IntroducedFebruary 10th, 2009

Bill Details

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Title

Artist-Museum Partnership Act

Official Title

A bill to amend the Internal Revenue Code of 1986 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.

Summary

Artist-Museum Partnership Act - Amends the Internal Revenue Code to allow taxpayers who create literary, musical, artistic, or scholarly compositions or similar property a fair market value (determined at the time of contribution) tax deduction for contributions of such properties, the copyrights thereon, or both, to certain tax-exempt organizations, if such properties are properly appraised and are donated no sooner than 18 months after their creation. Limits the amount of such deduction based upon the donor's artistic adjusted gross income, as defined by this Act.

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