S. 661: CREATE Act of 2017

115th Congress · introduced 2017-03-15 · Commerce · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2017-03-15 · official record
Who proposed it: Sen. Udall, Tom [D-NM] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

CREATE Act of 2017

Plain summary

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.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

CREATE Act of 2017

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Udall, Tom [D-NM] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Brian Schatz (D-HI), Tammy Baldwin (D-WI)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (4)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Capital gains: The profit from selling something you own, such as stock or real estate, for more than you paid. A capital gains tax is a tax on that profit.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s661.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s661 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115