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Bill Would Loosen Rules for Gifts of Art
By Peter Panepento
Museum leaders' efforts to persuade Congress to change a new law that limits tax deductions for donations of art might soon pay off.
Rep. Tom Udall, Democrat of New Mexico, and Rep. Phil English, Republican of Pennsylvania, have introduced a bill aimed at making it easier for donors to make partial gifts of art to charity. The bill also aims to satisfy regulators...