Artist-Museum Partnership Act, S. 548

During my research on another Tax matter, I came across this Act, “Artist-Museum Partnership Act, S. 548″, that was introduced in February, 2007 to congress. The bill S. 548 is identical to bill H.R. 1524.

The bill was written a number of times but never passed. It was written to allow Artist, Musicians, Writers and Scholars who donate their work to Museums, or Charitable institutions, to deduct the Fair Market Value of their work from their taxes. As it is now, “Artist” are only allowed to deduct the materials associated with the creation of their work, not their time or the value that would be received in the public market.

If you want this bill to pass contact all members of both chambers through their websites at www.senate.gov and www.house.gov.

For a copy of the bill click here: artist-museumpartnershipact_s548.pdf

For more information visit College Art Association, GovTrack.US, or American’s For the Arts

This entry was posted on Sunday, December 23, 2007 at 17:30 and is filed under Art Legislation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.