Art and Collectibles Capital Gains Tax Treatment Parity Act

Summary

Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to: (1) eliminate the 28-percent capital gains tax rate for collectibles, thus allowing gain from the sale of collectibles (including art works) to be taxed at the 15-percent tax rate applicable to other investment property; (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.

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

Timeline

1. 7 June 2005

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6167-6168)

   Source: IntroReferral

2. 7 June 2005

   Introduced

   Sponsor introductory remarks on measure. (CR S6166-6167)

   Source: IntroReferral

3. 7 June 2005

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 7 June 2005 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 June 2005

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 June 2005

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 7 June 2005

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Domenici, Pete V. [R-NM] · R · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Sponsor
• Sen. Allard, Wayne [R-CO] · R · Sponsor
• Sen. Coleman, Norm [R-MN] · R · Sponsor
• Sen. Warner, John [R-VA] · R · Cosponsor
• Sen. Crapo, Mike [R-ID] · R · Cosponsor
• Sen. Clinton, Hillary Rodham [D-NY] · D · Cosponsor
• Sen. Craig, Larry E. [R-ID] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Artists' Contribution to American Heritage Act of 2005
• related to → Artist-Museum Partnership Act
• related to → Art and Collectibles Capital Gains Tax Treatment Parity Act