National Art Bank Act of 1985

National Art Bank Act of 1985 - Amends the National Foundation on the Arts and the Humanities Act of 1965 to establish an Art Bank within the National Endowment for the Arts (NEA).

Directs the NEA Chairman to appoint the Director of the Art Bank to head it and to report its activities to the Chairman.

Authorizes the Director to: (1) appoint ad hoc juries of artists and recognized professionals who are respected in the artistic community to assist in selecting visual works of art; (2) select such works by American artists for the Art Bank with the juries' assistance and purchase them at fair market value; (3) provide for the works' storage, transport, and insurance; (4) loan the works to Federal supervisory authorities and to museums; (5) require NEA Visual Arts Fellowship recipients to donate one of their own works to the Art Bank; (6) sponsor exhibitions; (7) select Art Bank works for sale; and (8) provide technical assistance to State and local governments and nonprofit institutions to establish art banks.

Sets forth provisions for compensation of jury members.

Requires the Director to consider the quality of the works as the foremost criterion in selecting works for purchase. Limits the amount which may be expended for purchase of the work of any one artist in any one fiscal year. Permits amounts received by the NEA from the sale or lease of Art Bank works to be used in the fiscal year in which such amounts are received and in succeeding fiscal years to carry out Art Bank functions.

Authorizes appropriations for FY 1987 through 1989 for Art Bank functions. Limits the amount which may be used for administrative costs.