Art Market Integrity Act
Sponsored By: Senator Sen. Fetterman, John [D-PA]
Introduced
Summary
Would bring art market intermediaries under anti-money-laundering reporting rules. This bill would add dealers, galleries, auction houses, museums, collectors and other intermediaries in the trade of original works of art to the list of persons who must keep records and report certain monetary transactions, while defining what counts as a "work of art" and excluding applied and mass-produced decorative pieces.
Show full summary
- Dealers, galleries, auction houses, museums, collectors, advisors, consultants and custodians would need to keep records and file reports for art transactions that exceed $10,000 in a single sale or $50,000 in total sales in the prior year.
- Individuals who are engaged in the art market only to sell works they personally created would be exempt from the new recordkeeping and reporting requirements.
- The Secretary of the Treasury and the Financial Crimes Enforcement Network would have rulemaking roles. FinCEN would be required to propose rules within 180 days and Treasury would update an OFAC advisory within 360 days, with rules to clarify coverage by location, agent role, and possible additional exemptions.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
New reporting rules for art dealers
This bill would require art-market intermediaries to keep records and make certain reports. It would apply to dealers, galleries, auction houses, museums, collectors, advisors, custodians, and other intermediaries. The rule would not apply if, in the prior year, you had no single art transaction over $10,000 or your total art transactions were $50,000 or less. It would also not apply if you only sell art you made. The bill defines "work of art" to include original painting, sculpture, watercolor, print, drawing, photograph, installation art, and video art, and to exclude applied art and mass-produced decorative art. FinCEN must issue proposed rules within 180 days. The reporting regime would start on the earlier of those rules becoming effective or 360 days after enactment.
Updated sanctions guidance for art sales
This bill would require Treasury to update OFAC guidance on high-value art transactions that may involve sanctioned people or entities. Treasury must coordinate with other federal agencies. The updated guidance must be issued within 360 days of enactment.
Free Policy Watch
You just read the policy. Now see what it costs you.
Pick a topic. PRIA runs your household against live legislation and sends you a free personalized readout.
Pick a topic to get started
Sponsors & CoSponsors
Sponsor
Sen. Fetterman, John [D-PA]
PA • D
Cosponsors
Sen. Grassley, Chuck [R-IA]
IA • R
Sponsored 7/23/2025
Sen. Whitehouse, Sheldon [D-RI]
RI • D
Sponsored 7/23/2025
Sen. McCormick, David [R-PA]
PA • R
Sponsored 7/23/2025
Andy Kim
NJ • D
Sponsored 7/23/2025
Sen. Cassidy, Bill [R-LA]
LA • R
Sponsored 7/23/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Take the PRIA Score to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in