H.R.3957 - Expanding Broadcast Ownership Opportunities Act of 2019116th Congress (2019-2020) |
|Sponsor:||Rep. Butterfield, G. K. [D-NC-1] (Introduced 07/25/2019)|
|Committees:||House - Energy and Commerce; Ways and Means|
|Latest Action:||House - 03/10/2020 Forwarded by Subcommittee to Full Committee by Voice Vote . (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.3957 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (07/25/2019)
Expanding Broadcast Ownership Opportunities Act of 2019
This bill requires the Federal Communications Commission (FCC) to increase diversity of ownership in the broadcasting industry.
Specifically, the bill allows companies engaged in the qualifying sale of a broadcast station to receive favorable tax treatment by electing nonrecognition of the gain or loss resulting from the sale. To qualify for this treatment, the sale must result in or preserve ownership of a broadcast station by socially disadvantaged individuals.
The bill also requires the FCC to foster investment in broadcast stations owned by socially disadvantaged individuals.