The US Congress is close to passing a law that would allow artists a tax deduction for donating their work to a non-profit institution. “The Artists’ Contribution to American Heritage Act of 2003 (HR 806) would allow artists a charitable tax deduction ‘equal to fair market value’ for contributing ‘literary, musical, artistic, or scholarly compositions created by the donor’ to qualifying public institutions such as a library or museum. Under current law, artists may deduct only the cost of materials used to create the work.”