The Artist and the Taxman

If a collector were to donate a painting to a museum, he could deduct the fair market value of that painting on his taxes. If the artist donated the same painting, he could only deduct the cost basis of the work: essentially his materials. This is not how it has always been. In 1969 this law went into effect with disastrous results for museums, especially the Library of Congress. Now, there is a bipartisan movement to go back to the pre-1969 law.

You can read about it here.