S.2433 - Expanding Broadcast Ownership Opportunities Act of 2019116th Congress (2019-2020) |
|Sponsor:||Sen. Peters, Gary C. [D-MI] (Introduced 08/01/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 08/01/2019 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.2433 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (08/01/2019)
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.