S 2433
116th Congress
Senate
Science, Technology, Communications
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
Women in business
Expanding Broadcast Ownership Opportunities Act of 2019
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 1, 2019
Read twice and referred to the Committee on Finance.
Aug 1, 2019
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1