Artists Tax Equity and Donation Act of 1981

Summary

Artists Tax Equity and Donation Act of 1981 - Amends the Internal Revenue Code to allow an income tax deduction for the current fair market value of a literary, musical, or artistic composition created by the taxpayer and contributed to a charitable organization. Disallows a fair market value deduction for a contribution of property which was produced while the taxpayer was a Government officer or employee if such property arose out of the performance of the taxpayer's duties. Permits the executor of an estate, in calculating the gross estate, to elect to value any copyright or any literary, musical, or artistic work created by the decedent at an amount equal to the decedent's adjusted basis in such property.

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Timeline

1. 6 March 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 6 March 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

3. 10 March 1981

   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 · 6 March 1981

  Open at official source

Sponsors

• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Lugar, Richard G. [R-IN] · R · Sponsor
• Sen. Kasten, Robert W., Jr. [R-WI] · R · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Sponsor
• Sen. Williams, Harrison A., Jr. [D-NJ] · D · Sponsor
• Sen. Heinz, John [R-PA] · R · Cosponsor
• Sen. Symms, Steven D. [R-ID] · R · Cosponsor
• Sen. DeConcini, Dennis [D-AZ] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Artist's Tax Equity and Donation Act of 1981