Broadcast Varied Ownership Incentives for Community Expanded Service Act or the Broadcast VOICES Act
This bill requires the Federal Communications Commission (FCC) to take certain actions to increase diversity of ownership in the broadcasting industry and establishes related tax incentives.
Specifically, the bill requires the FCC to report to Congress regarding (1) recommendations for increasing the total number, and the value, of broadcast stations that are owned by socially disadvantaged individuals; (2) the total number of broadcast stations that are owned by socially disadvantaged individuals; and (3) whether there is a nexus between diversity of ownership or control of broadcast stations and the diversity of the viewpoints expressed on the stations.
In addition, 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.
Finally, the establishes a tax credit for certain contributions toward the training of socially disadvantaged individuals in the management and operation of broadcast stations.
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