Emily J. Follas (J.D. 2009, Notre Dame) has published Note, "It Belongs in a Museum": Appropriate Donor Incentives for Fractional Gifts of Art, 83 Notre Dame L. Rev. 1779 (2008). Here is part of the Introduction:

Part I of this Note explains the state of fractional giving law leading up to the [2006 Pension Protection Act], highlighting its incentives for donors and benefits to museums. Part II introduces the PPA. It considers Congress' reasons for passing the Act and describes how the Act modified fractional giving law. Part III discusses the Act's effects over the last year and what changes are necessary to revive fractional giving. This Part argues that Congress' goals would be better achieved with a more moderate and longer-term approach to fractional gifts.