Bill > HR3879

This bill aims to increase diversity of ownership in the broadcasting industry by establishing a new tax certificate program and creating incentives for broadcast stations owned by socially disadvantaged individuals, which includes women and individuals who have experienced racial, ethnic, or cultural prejudice. The bill requires the Federal Communications Commission (FCC) to submit biennial reports to Congress detailing the number and value of broadcast stations owned by socially disadvantaged individuals and recommending ways to increase this ownership. It establishes a framework where the FCC can issue tax certificates for broadcast station sales that result in ownership by socially disadvantaged individuals, with specific rules including a $50 million sale value limit, a minimum 2-3 year holding period, and requirements for management participation. The bill also creates a tax credit for contributions of broadcast stations to entities that train socially disadvantaged individuals in station management. The current ownership data is stark: as of 2021, less than 6% of commercial television stations and less than 4% of radio stations are minority-owned, and less than 9% of FM radio stations are women-owned. The tax certificate program is modeled after a previous initiative that ran from 1978 to 1995, during which 287 radio station and 40 television station certificates were issued. The bill includes a 16-year sunset provision and requires the FCC to examine the potential link between ownership diversity and viewpoint diversity.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/3879/all-info