US SB2433 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on August 1 2019 - 25% progression, died in committee
Action: 2019-08-01 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on August 1 2019 - 25% progression, died in committee
Action: 2019-08-01 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Expanding Broadcast Ownership Opportunities Act of 2019
Sponsors
| Sen. Gary Peters [D-MI] | Sen. Brian Schatz [D-HI] | Sen. Doug Jones [D-AL] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-08-01 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB3957 (Related) 2020-09-09 - Ordered to be Reported (Amended) by Voice Vote.
Subjects
Administrative law and regulatory procedures
Broadcasting, cable, digital technologies
Business investment and capital
Capital gains tax
Congressional oversight
Corporate finance and management
Federal Communications Commission (FCC)
Government studies and investigations
Income tax deductions
Income tax deferral
Licensing and registrations
Minority and disadvantaged businesses
Science, technology, communications
Women in business
Broadcasting, cable, digital technologies
Business investment and capital
Capital gains tax
Congressional oversight
Corporate finance and management
Federal Communications Commission (FCC)
Government studies and investigations
Income tax deductions
Income tax deferral
Licensing and registrations
Minority and disadvantaged businesses
Science, technology, communications
Women in business
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/2433/all-info |
| Text | https://www.congress.gov/116/bills/s2433/BILLS-116s2433is.pdf |
