House Subcomittee Introduces Tax Certificate Legislation

RADIO ONLINE | Tuesday, March 10, 2020 | 4:32pm CT

U.S. Congress

The U.S. House Subcommittee on Communications and Technology has introduced "Expanding Broadcast Ownership Opportunities Act of 2019" that would direct the FCC to take certain actions to increase diversity of ownership in the broadcasting industry. Among them, the legislation would reinstate a tax certificate program to help women and minorities achieve station ownership. Data from 2014 shows that women owned approximately 7 percent of FM broadcast stations, and minorities owned less than 3 percent of stations.

In a statement, NAB Executive VP/Communications Dennis Wharton said, "As longtime supporters of congressional efforts to expand ownership diversity in broadcasting, NAB strongly supports legislation reinstating a tax certificate program to help women and minorities achieve their dreams of station ownership.

"We appreciate Rep. Butterfield's leadership in crafting this bipartisan, market-based solution to increase TV and radio station ownership diversity. Broadcasters will work with all policymakers on proposals like the tax certificate and incubator programs that provide incentives for access to capital for women and people of color in the broadcast space."