Art and Collectibles Capital Gains Tax Treatment Parity Act
Latest action · May 10, 2011 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.
- IntroducedMay 10, 2011
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from May 10, 2011 to May 23, 2012, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-ID | Mike Crapo | Original | May 10, 2011 |
| D-MI | Debbie Stabenow | May 23, 2012 |
Actions 2
Everything that happened, newest first.
- May 10, 2011Introduced in Senate
- May 10, 2011Read 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 |
|---|---|---|---|
| HR 1190 | Artist-Museum Partnership Act of 2011 | Related bill | Mar 17, 2011 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 10, 2011Introduced 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.