Saving Local News Act

Hozzl · 2024-03-06T04:45:24Z

Explore the details of House Bill 7306 Saving Local News Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

3/6/2024, 4:45 AM

Congressional Summary of HR 7306

Saving Local News Act

This bill includes as a tax-exempt 501(c)(3) charitable organization purpose the publication (including electronic publication) of written news articles.

In the case of an organization that is tax-exempt due to the publication of written news articles, the term unrelated business taxable income does not include any amount attributable to payments for advertisements in news publications.

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Current Status of Bill HR 7306

Bill HR 7306 is currently in the status of Bill Introduced since February 9, 2024. Bill HR 7306 was introduced during Congress 118 and was introduced to the House on February 9, 2024. Bill HR 7306's most recent activity was Referred to the House Committee on Ways and Means. as of February 9, 2024

Bipartisan Support of Bill HR 7306

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7306

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 7306

Saving Local News ActSaving Local News ActTo amend the Internal Revenue Code of 1986 to include publication of written news articles as a tax-exempt purpose for organizations, and for other purposes.

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