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Senator Introduces CREATE Act to Support Arts Businesses, Jobs

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Mar 08, 2016

On Tuesday, March 8, Senator Tom Udall (D-NM) introduced the Comprehensive Resources for Entrepreneurs in the Arts to Transform the Economy (CREATE) Act. Speaking at the National Arts Action Summit in Washington D.C., Senator Udall argued that the arts are vital to local communities across the country, both for stimulating knowledge and driving economies.

According to Senator Udall, “artists and artistic entrepreneurs can face barriers when trying to raise money and get small business assistance. Supporting the arts nurtures our communities and the economy in New Mexico and across the country. That's why I've introduced the CREATE Act to help ensure that artists, galleries and museums, and aspiring artistic entrepreneurs can access resources and programs to help grow their businesses, create jobs and stimulate the economy, and share their artwork with our communities.”

Key provisions include:

  • Direction that the U.S. Small Business Administration (SBA) should work with micro-lenders, traditional lenders and regulators to ensure that artists and entrepreneurs have access to micro-loans and that loan program criteria are not discriminatory toward arts-related businesses.
  • Support for the development of SBA technical assistance programs targeted to meet the needs of the creative economy.
  • A requirement that the Economic Development Administration and Rural Development Administration ensure that traditional economic development tools, such as incubators and grant programs, support the arts industry.
  • Updates to the law to allow artists to claim tax deductions for charitable contributions based on the sale value of a piece of artwork, rather than the value of the materials used to create the artwork.
  • The creation of an Artist Corps (similar to the AmeriCorps) within the Corporation for National and Community Service to help expand access to arts and arts education in communities.
  • The creation of a demonstration project to promote creative and performing arts in local economic planning.
  • Measures to expand cultural and educational opportunities for American students and families by encouraging foreign governments to lend artwork to U.S. museums and educational institutions and expediting the visa process for foreign visual and performing artists hosted by American organizations.


Read more about the bill here.
 

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