AMENDMENTS TO ARTS AND ARTIFACTS INDEMNITY ACT.

SEC. 501. AMENDMENTS TO ARTS AND ARTIFACTS INDEMNITY ACT. Section 5 of the Arts and Artifacts Indemnity Act (20 U.S.C. 974) is amended—(1) in subsection (b), by striking “$5,000,000,000” and inserting “$8,000,000,000”;(2) in subsection (c), by striking “$500,000,000” and inserting “$600,000,000”; and(3) in subsection (d)—(A) in paragraph (6), by striking “or” after the semicolon; and(B) by striking paragraph (7) and inserting the following:“(7) not less than $400,000,000 but less than $500,000,000, then coverage under this chapter shall extend only to loss or damage in excess of the first $400,000 of loss or damage to items covered; or“(8) $500,000,000 or more, then coverage under this chapter shall extend only to loss or damage in excess of the first $500,000 of loss or damage to items covered.”.