Exploring Bills To Revive Tax Certificates To Foster Diversity In Station Ownership

The minority tax certificate is back in the news with revised bills being introduced in both the House of Representatives and the Senate. The tax certificate offers perhaps the most meaningful route to increasing diversity in broadcast ownership. While the certificate was abolished by Congress over 25 years ago, these new bills signaling the potential for its revival merits another examination of what this policy did and why it was effective, and what is now being proposed.

COMMENTARY

NAB’s Gordon Smith To Congress: Help Foster Ownership Diversity

Gordon Smith: Despite the best efforts of NAB and the many broadcast companies, the number of minority-owned broadcast stations remains disappointingly low. The reason can be summed up in three words: access to capital. Fortunately, there is a tried and true solution in Congress to help aspiring minority broadcasters break into the media landscape.

JESSELL AT LARGE

Jessell | Priority 2021: Minority Tax Certificate Redux

Minority ownership of broadcast companies is languishing at around 8.5%. A revival of the minority tax certificate, which was killed by the Republican-controlled Congress in 1995, would be a small, but important, step toward redressing an enormous imbalance in mass communication.

Understanding the Minority Tax Certificate And Its Potential For Promoting Diversity In Broadcast Ownership