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Tax Exempt Status for Local News Organizations

This bill aims to support local news organizations by granting them tax-exempt status. This means organizations publishing written news can operate similarly to charities, and their advertising income will not be taxed as unrelated business income. The process for obtaining this status is intended to be expedited.
Key points
Organizations publishing written news (including online) can qualify for tax-exempt status, similar to charities.
Advertising income from news publications by these organizations will not be taxed.
The application process for tax-exempt status for these organizations is intended to be approved or denied within 12 months.
The changes will apply to tax years beginning after the law is enacted.
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Additional Information
Saving Local News Act
Print number: HR 6068
Sponsor: Rep. DeSaulnier, Mark [D-CA-11]
Process start date: 2021-11-23