United States · Bill · S
S. 638 (107th)
Arts and Collectibles Capital Gains Tax Treatment Parity Act
Introduced
28 March 2001
Last action
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Status
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3057-3058)
Sponsors
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Subjects
Discovery layer
Source updated
19 August 2025
Summary
Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to provide art and collectibles with capital gain rates similar to other assets held long-term. (Currently art and collectibles have a 28 percent capital gain rate.) Establishes a (limited) fair market value deduction for qualifying literary, musical, or artistic charitable contributions created and donated by the taxpayer. (Currently such deduction is limited to the taxpayer's costs in creating the work.)
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 28 March 2001
Introduced in Senate (PDF)
Introduced in Senate · EN · 28 March 2001
Introduced in Senate
summary · EN · 28 March 2001
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/107th-congress/senate-bill/638
- Open data entity: https://api.congress.gov/v3/bill/107/s/638