S. 394 (111th): Art and Collectibles Capital Gains Tax Treatment Parity Act


Feb 9, 2009
111th Congress, 2009–2010

Died in a previous Congress

This bill was introduced on February 9, 2009, in a previous session of Congress, but was not enacted.


Charles “Chuck” Schumer

Senator from New York



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Last Updated: Feb 9, 2009
Length: 7 pages

About the bill

Full Title

A bill to amend the Internal Revenue Code of 1986 to provide the same capital gains treatment for art and collectibles as for other investment property and to provide that a deduction equal to fair market value shall be allowed for charitable contributions of literacy, musical, artistic, or scholarly compositions created by the donor.

Summary (CRS)

2/9/2009--Introduced.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 ... Read more >

The bill’s title was written by its sponsor.


Feb 9, 2009

This is the first step in the legislative process.

This is a Senate bill in the United States Congress (indicated by the “S.” in “S. 394”). A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.


2 cosponsors (1R, 1D) (show)
Committee Assignments

The committee chair determines whether a bill will move past the committee stage.


There have been no roll call votes related to this bill.

Related Bills

Legislative action may be ocurring on one of these bills in lieu of or in parallel to action on this bill.

S. 930 (112th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: May 10, 2011

H.R. 1126 (Related)
Artist-Museum Partnership Act of 2009

Referred to Committee
Last Action: Feb 23, 2009

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Primary Source

THOMAS.gov (The Library of Congress)

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