Bill > A04253

This bill establishes three new tax credits to support local journalism and media in New York State. First, a Local Newspaper Subscription Tax Credit allows taxpayers to claim up to $250 for subscriptions to local newspapers that meet specific criteria, such as having at least 51% of readers in a single county or area, employing a local journalist, and producing primarily original content. Second, a Newspaper Payroll Tax Credit provides employers in the local journalism sector with a tax credit for qualified journalism compensation, ranging from 50% to 30% of payroll depending on the tax year, with a quarterly cap of $12,500 per employee. Third, a Local Media Advertising Tax Credit enables eligible small businesses (those with fewer than 1,000 employees) to receive a tax credit for advertising in local newspapers or local radio/television stations, with credit percentages of 80% in 2026 and 50% thereafter, and annual limits of $5,000 in 2026 and $2,500 in subsequent years. These credits are designed to support local media by providing financial incentives for subscriptions, employment, and advertising, with the goal of preserving local journalism. The provisions are set to take effect on January 1, 2026, and will expire on December 31, 2031.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A4253