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U.S. Senate bill could revive fractional gifts to museums

August 2009 - Donating art to museums could soon become attractive again to wealthy collectors in the U.S. according to Shelly Banjo of the Wallstreet Journal.  Reacting to museums' complaints of sharp declines in art donations, a bill announced by Senator Charles Schumer, a New York Democrat, could revive the practice of so-called fractional gifts by making the process easier and more tax advantageous.  Read more