A bill to amend the Internal Revenue Code of 1954 to provide an income tax credit for individuals for purchases of contemporary American art.

[AI summary unavailable — showing source text] Provides an income tax credit under the Internal Revenue Code of 1954 for individuals for purchases of contemporary American art. Limits such tax credit to $1000 per year or 10 percent of the amount of such purchases during the year. Allows a carryover and carryback of such a tax credit.…