§1214. Charitable contributions of taxidermy property

Pension Protection Act of 2006

Title XII Provisions Relating to Exempt Organizations

Subtitle B Reforming Exempt Organizations

Part 1 General Reforms

(a) DENIAL OF LONG-TERM CAPITAL GAIN.-Subparagraph (B) of section 170(e)(1) is amended by striking "or" at the end of clause (ii), by inserting "or" at the end of clause (iii), and by inserting after clause (iii) the following new clause:

"(iv) of any taxidermy property which is contributed by the person who prepared, stuffed, or mounted the property or by any person who paid or incurred the cost of such preparation, stuffing, or mounting,".

(b) TREATMENT OF BASIS.-Subsection (f) of section 170, as amended by this Act, is amended by adding at the end the following new paragraph:

"(15) SPECIAL RULE FOR TAXIDERMY PROPERTY.-

"(A) BASIS.-For purposes of this section and notwithstanding section 1012, in the case of a charitable contribution of taxidermy property which is made by the person who prepared, stuffed, or mounted the property or by any person who paid or incurred the cost of such preparation, stuffing, or mounting, only the cost of the preparing, stuffing, or mounting shall be included in the basis of such property.

"(B) TAXIDERMY PROPERTY.- For purposes of this section, the term 'taxidermy property' means any work of art which-

"( i) is the reproduction or preservation of an animal, in whole or in part,

"(ii) is prepared, stuffed, or mounted for purposes of recreating one or more characteristics of such animal, and

"(iii) contains a part of the body of the dead animal.".

(c) EFFECTIVE DATE.- The amendment made by this section shall apply to contributions made after July 25, 2006.