3.0.0 661 2023-01-11T13:36:15Z 2023-01-11T13:36:15Z Senate S 2017-03-15 115 ssfi00 Finance Committee Senate Standing Referred to 2017-03-15T21:38:23Z Artist-Museum Partnership Act of 2017 115 1830 HR 2017-03-30 Referred to the House Committee on Ways and Means. Related bill CRS ARTS Act of 2018 115 2466 S 2018-02-28 Read twice and referred to the Committee on the Judiciary. Related bill CRS CREATE Act of 2017 115 1649 HR 2017-04-11 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Identical bill CRS 2017-03-15 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-03-15 Introduced in Senate IntroReferral 10000 9 Library of Congress U000039 Sen. Udall, Tom [D-NM] TOM UDALL D NM N S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2018-03-20 False B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2018-04-12 False Commerce Administrative law and regulatory procedures Art, artists, authorship Books and print media Capital gains tax Charitable contributions Community life and organization Cultural exchanges and relations Department of Homeland Security Department of the Treasury Disaster relief and insurance Economic development Federal Emergency Management Agency (FEMA) Foreign labor Government lending and loan guarantees Income tax deductions Intellectual property Literature Music National and community service Performing arts Property rights Rural conditions and development Self-employed Small business Tax-exempt organizations Transfer and inheritance taxes Visas and passports Commerce 00 2017-03-15 Introduced in Senate 2018-01-10T18:41:31Z Comprehensive Resources for Entrepreneurs in the Arts to Transform the Economy Act of 2017 or the CREATE Act of 2017

This bill amends the Internal Revenue Code to: (1) set forth new tax rules for the deduction of charitable contributions of literary, musical, or artistic compositions; and (2) exclude gain from the sale of art works from the highest capital gains tax rate.

The bill amends the Small Business Act to require the Small Business Administration to develop loan criteria, evaluation procedures, and technical assistance programs for small business concerns owned and controlled by artists.

The bill amends other federal enactments to require:

  • business incubation and grant programs to support artists and the creative economy;
  • the Department of Homeland Security to adjudicate nonimmigrant visas for artists and entertainers of extraordinary ability within 14 days; and
  • the Federal Emergency Management Agency (FEMA) to provide assistance for disaster-related expenses incurred by specified artists, designers, or musicians.

The bill amends the National and Community Service Act of 1990 to establish an Artist Corps that identifies and meets unmet needs within communities through artistic activities.

The Department of the Treasury shall develop and promulgate guidelines for the creation and operation of qualified community development entities focusing on investment in the creative economy in low-income communities.

The Department of Commerce shall establish a demonstration program to promote creative and performing arts in the economic planning of local governments.

]]> CREATE Act of 2017 Display Title CREATE Act of 2017 Official Title as Introduced A bill to assist entrepreneurs, support development of the creative economy, and encourage international cultural exchange, and for other purposes. Introduced in Senate IS Short Titles as Introduced CREATE Act of 2017 Short Titles as Introduced Comprehensive Resources for Entrepreneurs in the Arts to Transform the Economy Act of 2017 Introduced in Senate 2017-03-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s661is/xml/BILLS-115s661is.xml 2017-03-15 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.