US Congress Senate Bill 394 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 9 2009 - 25% progression, died in chamber
Action: 2009-02-09 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to: (1) eliminate the 28% capital gains tax rate for collectibles, thus allowing gain from the sale of collectibles (including art works) to be taxed at the 15% tax rate applicable to other investment property; and (2) allow the creator of a literary, musical, artistic, or scholarly property a fair market value tax deduction for the donation of such property to a tax-exempt organization, if properly appraised and donated no sooner than 18 months after its creation.

Art and Collectibles Capital Gains Tax Treatment Parity Act

Sen. Mike Crapo [R-ID]

Sen. Charles Schumer [D-NY]

Sen. Debbie Stabenow [D-MI]

Date	Chamber	Action
2009-02-09		Read twice and referred to the Committee on Finance.

HB1126 (Related) 2009-02-23 - Referred to the House Committee on Ways and Means.
SB405 (Related) 2009-02-10 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2082)

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/394/all-info
Text	https://www.congress.gov/111/bills/s394/BILLS-111s394is.pdf