Art and Collectibles Capital Gains Tax Treatment Parity Act
Latest action · Oct 28, 2003 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 28, 2003
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Establishes a (limited) fair market value deduction for qualifying literary, musical, artistic, or scholarly charitable contributions created and donated by the taxpayer.
Cosponsors 20
Members who signed on, in the order they did. Signatures ran from Oct 28, 2003 to May 18, 2004; 5 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Charles E. Schumer | Original | Oct 28, 2003 |
| R-KY | Jim Bunning | Original | Oct 28, 2003 |
| R-VA | John Warner | Original | Oct 28, 2003 |
| R-PA | Rick Santorum | Original | Oct 28, 2003 |
| R-UT | Robert F. Bennett | Original | Oct 28, 2003 |
| D-NM | Jeff Bingaman | Nov 13, 2003 | |
| R-MS | Thad Cochran | Nov 21, 2003 | |
| R-CO | Ben Nighthorse Campbell | Jan 22, 2004 | |
| R-VA | George Allen | Feb 12, 2004 | |
| D-NV | Harry Reid | Mar 12, 2004 | |
| R-ID | Mike Crapo | Mar 12, 2004 | |
| D-GA | Zell Miller | Mar 12, 2004 | |
| R-MS | Trent Lott | Mar 25, 2004 | |
| R-MT | Conrad R. Burns | Mar 31, 2004 | |
| R-ID | Larry E. Craig | Mar 31, 2004 | |
| R-MN | Norm Coleman | Mar 31, 2004 | |
| R-VT | James M. Jeffords | Apr 27, 2004 | |
| R-AL | Richard C. Shelby | May 4, 2004 | |
| R-GA | Saxby Chambliss | May 12, 2004 | |
| R-CO | Wayne Allard | May 18, 2004 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Oct 29, 2003 |
Actions 2
Everything that happened, newest first.
- Oct 28, 2003Introduced in Senate
- Oct 28, 2003Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 242 | Art and Collectibles Capital Gains Tax Treatment Parity Act | Related bill | Jan 29, 2003 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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.
- Short Titles as Introduced
- Art and Collectibles Capital Gains Tax Treatment Parity Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Agriculture and Food
- Alcoholic beverages
- Art
- Artists
- Arts, Culture, Religion
- Authors and authorship
- Books
- Capital gains tax
- Charitable contributions
- Coins and coinage
- Copyright
- Finance and Financial Sector
- Government Operations and Politics
- Government paperwork
- Income tax
- Intellectual property
- Jewelry trade
- Literature
- Metals
- Music
- Platinum
- Postage stamps
- Precious metals
- Silver
- Tax deductions
- Tax rates
- Taxation
- Valuation
Text 1
Each version as it was printed, newest first.
- Oct 28, 2003Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.