A bill to amend the Internal Revenue Code of 1954 to provide an income tax deduction for individuals for purchases of contemporary American art.

Summary

Provides an income tax deduction, under the Internal Revenue Code of 1954, for individuals for the purchase of contemporary American art. Limits such tax deduction to $10,000, or $5,000 in the case of a spouse filing a separate return. Allows a carryover and carryback of such tax deduction.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 11 December 1974

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 11 December 1974

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 December 1974

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 11 December 1974

  Open at official source

Sponsors

• Rep. Rees, Thomas M. [D-CA-23] · D · Sponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.