Visual Artists' Residual Rights Act

[AI summary unavailable — showing source text] Visual Artists' Residual Rights Act - Establishes the National Commission on the Visual Arts. Requires the seller of a work of visual art, sold in interstate or foreign commerce, for $1,000 or more, to pay five percent of the sale price to the Commission. Requires such seller to file with the Commission a statement describing the work sold, and stating the amount of money and the fair market value of property taken in payment. Sets forth civil penalties for failure to make the payments or file the reports required by this Act. Entitles the artist of such work to certain payments by the Commission. Establishes in the Treasury a visual arts fund.…