On Wednesday, the House Energy & Commerce Committee passed the “Expanding Broadcast Ownership Opportunities Act of 2019” which includes the tax certificate program aimed at increasing ownership for minorities.
The tax certificate program would provide a tax incentive to those who sold their majority interest in a broadcast station to minorities. The program was previously implemented by the Federal Communications Commission in 1978 and increased minority ownership in broadcast stations by more than 550 percent before its repeal in 1995. The Expanding Broadcast Ownership Opportunities Act of 2019 would reinstate the program to encourage investment in broadcast station ownership for women and people of color and dramatically help underrepresented voices realize their dreams of radio and television station ownership.
