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S. 1174

Artist-Museum Partnership Act of 2017

Artist-Museum Partnership Act of 2017

This bill amends the Internal Revenue Code to allow taxpayers who create literary, musical, artistic, scholarly compositions, or similar property a fair market value (determined at the time of contribution) tax deduction for contributions of such properties, the copyrights thereon, or both, to certain tax-exempt organizations, if such properties are properly appraised and are donated no less than 18 months after their creation. The bill limits the amount of the deduction based upon the donor's artistic adjusted gross income, as defined by this bill.

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3043)

Sen. Leahy, Patrick J. [D-VT](D-VT)Sponsor
2 cosponsors2 D
2cosponsors1committees2actions1related bills8subjects
  1. IntroReferral

    Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3043)

    Finance Committee
  2. IntroReferral10000

    Introduced in Senate

Artist-Museum Partnership Act of 2017 — Informed