What is the official ID of this bill?
The official print number for this legislation is S 2456.
Promoting Media Diversity: Tax Incentives and FCC Reporting
This act aims to increase diversity of ownership in broadcast stations, particularly among women and minorities. It introduces tax incentives for transactions that promote this diversity and mandates regular reporting by the Federal Communications Commission (FCC) on progress. The goal is to ensure citizens have access to a wider range of viewpoints in media.
Key points
Tax Incentives: Sellers of broadcast station interests to underrepresented groups (women, minorities) can receive tax benefits, encouraging such transactions.
Support for Owners: The act defines who qualifies as a socially disadvantaged individual to precisely target support.
Reports and Oversight: The FCC will regularly report to Congress on the number of stations owned by underrepresented individuals and how to increase their market share, ensuring transparency and progress monitoring.
Tax Credit for Contributions: A tax credit is introduced for donating broadcast stations to organizations that train socially disadvantaged individuals in media management.
Status:
Expired
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