Summary: H.R.668 — 108th Congress (2003-2004)All Information (Except Text)

There is one summary for H.R.668. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (02/11/2003)

Cultural Radio Tax Credit Act of 2003 - Amends the Internal Revenue Code to allow income tax credits to the owner of a commercial radio station donating the station's license and other assets (a 125 percent credit for the license and a 100 percent credit for the assets) to a tax-exempt organization which agrees to operate the radio broadcasting station being donated to it as a for-profit venture, with profits dedicated to the support of non-profit fine arts and performing arts organizations in its service area.