An Act To amend the Internal Revenue Code of 1954 to encourage economic growth through reduction of the tax rates for individual taxpayers, acceleration of capital cost recovery of investment in plant, equipment, and real property, and incentives for savings, and for other purposes

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These amendments to the Internal Revenue Code of 1954 include section 429, relating to credit against estate tax for transfer to the Smithsonian. "Upon transfer to the Smithsonian Institution, within thirty days following the date of the enactment of this Act, of all right, title, and interests held by the Dorothy Meserve Kunhardt trust and the estate of Dorothy Meserve Kunhardt in the collection of approximately seven thousand two hundred and fifty Mathew Brady glass plate negatives and the Alexander Gardner imperial portrait print of Abraham Lincoln, there shall be allowed as a credit, effective as of the date upon which the return was due to be filed, against the tax imposed by section 2001 (relating to the imposition of estate tax) on such estate an amount equal to the lesser of-- (1) such tax, (2) the fair market value of such negatives and such print, or (3) $700,000."


  • Kunhardt, Dorothy Meserve
  • Gardner, Alexander 1821-1882
  • Lincoln, Abraham 1809-1865
  • United States Economic Recovery Tax Act of 1981
  • United States Internal Revenue Code of 1954


Smithsonian Legal Documents

Legal document information

  • 95 Stat. 172
  • Title 26, Excise Taxes
  • Public Law

Citation information

Statutes at Large


This Act may be cited as the "Economic Recovery Tax Act of 1981".

Contained within

95 Stat. 172 (1981); Pub. L. No. 97-34 (Book)

Contact information

Institutional History Division, Smithsonian Institution Archives, 600 Maryland Avenue, S.W., Washington, D.C. 20024-2520,


  • 1982
  • 08/13/1981


  • Internal Revenue Code
  • Photography
  • Portrait photography
  • Negatives
  • Amendments (Parliamentary practice)
  • Inheritance and transfer tax
  • Portraits
  • Photography--Negatives


Public Law

Physical description

Number of pages: 3; Page Numbers: 172, 174, 319

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