A Democratic bill with 3 Republican cosponsors · See all 5 cosponsors
Last activity — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The "Art Market Integrity Act" (S. 2400) amends title 31 of the United States Code to include certain art traders under the provisions related to records and reports on monetary instrument transactions. It requires the Secretary of the Treasury to update guidance on high-value artwork transactions involving sanctioned individuals and issue rules to implement these changes. This aims to increase transparency in the art market and combat money laundering.
Yes
- Scored +6
Does this make what the government does easier for the public to see?
Increases transparency in high-value art transactions to combat money laundering.
- Scored +4
Does this give the federal government more power?
Expands federal oversight and reporting requirements for the art market.
The opposite· 3 of 7
- Scored -6
Would the very wealthiest people be better off under this?
Increases government oversight of high-value asset movements often used by this group.
- Scored -6
Would billionaires be better off under this?
Restricts the anonymity of high-value art acquisitions and sales.
- Scored -5
Would people with substantial wealth be better off under this?
Directly impacts the privacy of luxury asset transactions.
Who it would affect, and how
Potential Positive Impacts for People
- The bill aims to combat money laundering through art transactions. By including art traders under provisions related to records and reports on monetary instrument transactions (Section 2(a)), it may help prevent illicit financial activities, which could indirectly benefit the public by reducing crime and corruption.
- The requirement for the Secretary of the Treasury to issue updated guidance regarding high-value artwork transactions involving sanctioned persons or entities (Section 2(b)) could help prevent sanctioned individuals or entities from using art to evade sanctions, further supporting national security efforts.
Potential Negative Impacts for People
- The bill could create additional compliance burdens for individuals and businesses involved in the art market. The new reporting requirements (Section 2(a)) may increase costs and administrative work for art dealers, advisors, consultants, custodians, galleries, auction houses, museums, and collectors.
- The bill may affect the privacy of individuals involved in art transactions, as it requires certain art traders to report transactions, potentially leading to increased government scrutiny of their financial activities.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would billionaires be better off under this? — Restricts the anonymity of high-value art acquisitions and sales. Would the very wealthiest people be better off under this? — Increases government oversight of high-value asset movements often used by this group. Would people with substantial wealth be better off under this? — Directly impacts the privacy of luxury asset transactions. Would business owners be better off under this? — Imposes new compliance costs and administrative burdens on art traders and galleries. Would high-income households be better off under this? — Increases reporting requirements and reduces privacy for high-value art collectors.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — Increases transparency in high-value art transactions to combat money laundering. Does this give the federal government more power? — Expands federal oversight and reporting requirements for the art market. Does this protect people from being watched or searched? — Increases government scrutiny and reporting of private financial transactions in the art market.
- Economy And Finance
- Does this make it easier to run a small business? — Increases compliance and administrative burdens for small art galleries and dealers.
- 7/23/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 5 Cosponsors added.
- Introduced in Senate
Bill CassidyRepublican · Louisiana
Chuck GrassleyRepublican · Iowa
Andy KimDemocrat · New Jersey
David McCormickRepublican · Pennsylvania
Sheldon WhitehouseDemocrat · Rhode Island