HR 17613 · 93th Congress · Taxation

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

Introduced 1974-12-11· Sponsored by Rep. Rees, Thomas M. [D-CA-26]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-12-11)

Plain Language Summary

[AI summary unavailable — showing source text] Provides an income tax deduction, under the Internal Revenue Code of 1954, for individuals for the purchase of contemporary American art. Limits such tax deduction to $10,000, or $5,000 in the case of a spouse filing a separate return. Allows a carryover and carryback of such tax deduction.…

Summarized by Claude AI · Non-partisan · For informational purposes only