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In December 2011, a bill was introduced in both houses of Congress proposing the passage of the Equity for Visual Artists Act of 2011 (EVAA). This bill, which amends existing copyright law, would require major auction houses to set aside 7 percent of any sale larger than $10,000. Half of that money would go to the artist and half into an art acquisition fund for nonprofit art museums. The law would not apply to sales by dealers or auction houses with less than $25 million in annual sales, or those that operate solely on the Internet.

Read more from the New York Law Journal or read the text of the bill.


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