Tax Incentives to Boost Diverse Ownership in Radio and TV Broadcasting.
This Act establishes new tax incentives for current broadcast station owners who sell their assets to socially disadvantaged individuals, including women and minority groups. The goal is to increase the diversity of voices and viewpoints available to the public through radio and television. It also introduces a tax credit for donating stations to non-profits focused on training these underrepresented groups in media management.
Key points
Creation of a tax certificate program allowing sellers to defer capital gains tax on station sales if the buyer is a socially disadvantaged individual (women or minorities).
A new tax credit is available for contributions of broadcast stations to charities that train socially disadvantaged individuals in media operations.
The FCC is mandated to regularly report to Congress on the status of diversity in broadcast ownership and study the link between ownership diversity and viewpoint diversity.
Status:
Expired
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