Wednesday, March 05, 2014

resale royalty rights PASSAGE

"n fact, legislation was proposed in both the Senate (S.2000) and the House (H.R.3688) in December 2011 that would provide for a national resale royalty right.

The Equity for Visual Artists Act of 2011 (EVAA) would provide for a 7% royalty to be collected from sales of certain works of art where the sale price exceeded $10,000. Half of this payment would go to the artist or successor in copyright, and half would go towards an escrow account to support U.S. non-profit museums.[5]

 Both pieces of legislation are currently in committee.

In conjunction with the consideration of the legislation, in September 2012 Congress published a Notice of Inquiry requesting comments from the public on factual and policy matters relating to a possible federal resale royalty right."
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