National Heritage Resource Act of 1983

Summary

National Heritage Resource Act of 1983 - Amends the Internal Revenue Code to allow creators of artistic properties an income tax deduction for the current fair market value of literary, musical, or artistic compositions which they contribute to charitable organizations. Requires: (1) that the artistic property be created by the taxpayer at least one year prior to the time of such contribution; (2) that the fair market value of such property be appraised within one year of the date of contribution; and (3) that the donee of such property show that the use of the property will be related to the charitable purpose or function of his organization. Denies a fair market value deduction for contributions of any letter, memorandum or similar property produced by a Federal or State employee which arose out of the performance of such employee's official duties. Exempts such fair market value deduction from the application of the minimum tax.

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Timeline

1. 3 February 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 3 February 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 8 February 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 3 February 1983

  Open at official source

Sponsors

• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Sponsor
• Sen. Goldwater, Barry [R-AZ] · R · Sponsor
• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Kasten, Robert W., Jr. [R-WI] · R · Sponsor
• Sen. Kennedy, Edward M. [D-MA] · D · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Sen. Metzenbaum, Howard M. [D-OH] · D · Sponsor
• Sen. Moynihan, Daniel Patrick [D-NY] · D · Sponsor
• Sen. Pell, Claiborne [D-RI] · D · Sponsor
• Sen. Pryor, David H. [D-AR] · D · Sponsor
• Sen. Symms, Steven D. [R-ID] · R · Sponsor
• Sen. Tsongas, Paul E. [D-MA] · D · Sponsor
• Sen. Stafford, Robert T. [R-VT] · R · Cosponsor
• Sen. Mathias, Charles McC., Jr. [R-MD] · R · Cosponsor
• Sen. Simpson, Alan K. [R-WY] · R · Cosponsor
• Sen. Randolph, Jennings [D-WV] · D · Cosponsor
• Sen. Andrews, Mark [R-ND] · R · Cosponsor
• Sen. Stevens, Ted [R-AK] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. Danforth, John C. [R-MO] · R · Cosponsor
• Sen. Hollings, Ernest F. [D-SC] · D · Cosponsor
• Sen. Hawkins, Paula [R-FL] · R · Cosponsor
• Sen. Thurmond, Strom [R-SC] · R · Cosponsor
• Sen. Burdick, Quentin N. [D-ND] · D · Cosponsor
• Sen. Huddleston, Walter (Dee) [D-KY] · D · Cosponsor
• Sen. Cranston, Alan [D-CA] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → National Heritage Resource Act of 1983