Artists' Contribution to American Heritage Act of 2005

The Artists' Contribution to American Heritage Act of 2005 proposes a change to the tax code that would allow artists, writers, and scholars to claim a tax deduction for the full fair market value of their own works donated to museums, libraries, and other non-profit organizations. Under current law, creators can generally only deduct the cost of the materials used (such as paint, paper, or ink) rather than the actual value of the finished piece.

If enacted, this bill would encourage creators to donate their original works to public institutions by providing a financial incentive similar to what a private collector receives for donating the same items. To qualify, the work must have been created at least 18 months prior to the donation and receive a professional appraisal, with the total deduction limited based on the creator's income from their artistic work.