Promoting Media Diversity: Tax Incentives and FCC Reporting
This act aims to increase the number of radio and television stations owned by women and minorities. It introduces tax benefits for station sales that promote this diversity and requires the Federal Communications Commission (FCC) to regularly report on progress. The goal is to ensure citizens have access to a wider range of viewpoints in media.
Key points
Tax Benefits: Sellers of broadcast stations can receive tax benefits if the sale increases ownership by women or minorities.
Diversity Support: The act defines who is considered a socially disadvantaged individual (women, individuals facing racial/ethnic prejudice) in the context of station ownership.
Reports to Congress: The FCC will regularly inform Congress about the number of stations owned by women and minorities and how to increase their value and number.
Impact Study: The FCC will examine whether diversity in station ownership leads to diversity in broadcast viewpoints.
Status:
Introduced
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