CREATE Act of 2017

Summary

Comprehensive Resources for Entrepreneurs in the Arts to Transform the Economy Act of 2017 or the CREATE Act of 2017 This bill amends the Internal Revenue Code to: (1) set forth new tax rules for the deduction of charitable contributions of literary, musical, or artistic compositions; and (2) exclude gain from the sale of art works from the highest capital gains tax rate. The bill amends the Small Business Act to require the Small Business Administration to develop loan criteria, evaluation procedures, and technical assistance programs for small business concerns owned and controlled by artists. The bill amends other federal enactments to require: business incubation and grant programs to support artists and the creative economy; the Department of Homeland Security to adjudicate nonimmigrant visas for artists and entertainers of extraordinary ability within 14 days; and the Federal Emergency Management Agency (FEMA) to provide assistance for disaster-related expenses incurred by specified artists, designers, or musicians. The bill amends the National and Community Service Act of 1990 to establish an Artist Corps that identifies and meets unmet needs within communities through artistic activities. The Department of the Treasury shall develop and promulgate guidelines for the creation and operation of qualified community development entities focusing on investment in the creative economy in low-income communities. The Department of Commerce shall establish a demonstration program to promote creative and performing arts in the economic planning of local governments.

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Timeline

1. 15 March 2017

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 15 March 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 15 March 2017 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 March 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 March 2017

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 15 March 2017

  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. Udall, Tom [D-NM] · D · Sponsor
• Sen. Schatz, Brian [D-HI] · D · Cosponsor
• Sen. Baldwin, Tammy [D-WI] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to ← CREATE Act of 2017
• related to ← Artist-Museum Partnership Act of 2017
• related to ← ARTS Act of 2018