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NAB Pushes Passage of Ownership Tax Break

NAB Pushes Passage of Ownership Tax Break

The NAB has sent a letter to all U.S. senators urging passage of S. 267, the “Telecommunications Ownership Diversification Act of 2003.”
The bill, sponsored by John McCain, R-Ariz., is designed to foster more diversity in broadcast ownership. The legislation is similar to the former minority tax certificate program, which gave tax benefits to broadcast owners that sold stations to minorities. This bill encompases all telecom industries.
NAB sponsors many programs designed to recruit new entrants into broadcasting, wrote NAB President/CEO Eddie Fritts.