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Expanding Broadcast Ownership Opportunities Act of 2019
11/1/2022, 1:50 PM
Congressional Summary of HR 3957
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.
Read the Full Bill
Current Status of Bill HR 3957
Bill HR 3957 is currently in the status of Bill Introduced since July 25, 2019. Bill HR 3957 was introduced during Congress 116 and was introduced to the House on July 25, 2019. Bill HR 3957's most recent activity was Ordered to be Reported (Amended) by Voice Vote. as of September 9, 2020
Bipartisan Support of Bill HR 3957
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
35Democrat Cosponsors
35Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 3957
Primary Policy Focus
Science, Technology, CommunicationsPotential Impact Areas
- 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
Alternate Title(s) of Bill HR 3957
Expanding Broadcast Ownership Opportunities Act of 2019
To direct the Federal Communications Commission to take certain actions to increase diversity of ownership in the broadcasting industry, and for other purposes.
Expanding Broadcast Ownership Opportunities Act of 2019
Comments
Sponsors and Cosponsors of HR 3957
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