,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #fiac  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #ae1 #bjbj,mr4   
,ryan 7= himself1 ,ms4 ,norton1 ,mr4    
,huffman1 ,ms4 ,b>ragn1 ,mr4 ,suozzi1   
,mr4 ,gonzalez ( ,texas1 ,mrs4 ,luria1  
,ms4 ,p+ree1 ,mr4 ,c>twright1 ,mr4      
,soto1 ,mr4 ,connolly1 ,mr4 ,rask91 ,mr4
 ,cri/1 ,mr4 ,evans1 ,mr4 ,coh51 ,ms4   
,jackson ,lee1 ,mr4 ,s]rano1 ,ms4       
,johnson ( ,texas1 ,mr4 ,lev9 (         
,cali=nia1 ,mrs4 ,kirkpatrick1 ,ms4     
,kaptur1 & ,mr4 ,kilm]7 introduc$ !     
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,ways & ,means1 & 9       
addition to ! ,committees on ,ov]sight &
 ,re=m1 ,small ,bus9ess1 ,en]gy &       
,comm]ce1 & ,education & ,labor1 = a    
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to      
protect local m$ia1 & = o!r purposes4   
#a4 ,requirem5t to adv]tise ) local m$ia
  7a7 ,requirem5t  7#a7 ,9 g5]al ,ea*   

executive ag5cy %all exp5d ) local      
m$ia-- 7,a7 dur+ ! p]iod t beg9s on !   
date ( ! enactm5t ( ?is section & ends  
on ,decemb] #ca1 #bjbj1 #ej p]c5t ( !   
funds obligat$ by ! ag5cy = adv]tis+    
activities & und]writ+ activities dur+  
su* p]iod2 &  7,b7 dur+ any p]iod t     
beg9s on or aft] ,janu>y #a1 #bjba1 #be 
p]c5t ( ! funds obligat$ by ! ag5cy =   
adv]tis+ activities & und]writ+         
activities dur+ ! applicable p]iod4     
7#b7 ,limitation ,( ! funds requir$ to  
be exp5d$ "u p>agraph 7#a71 at lea/ #de 
p]c5t ( su* funds %all be exp5d$ equally
 betwe5 newspap]s1 television /ations1 &
 radio /ations t are local m$ia4  7b7   
,use ( funds ,ea* executive ag5cy %all--
 7#a7 exp5d ! funds requir$ to be exp5d$
 "u subsection 7a7 9 a nonp>tisan &     
nonideological mann]2 &  7#b7 ensure t !
 funds are exp5d$ ) local m$ia on a     
geographically equitable basis4  7c7    
,report to ,congress ,n lat] ?an #ahj   
days aft] ! date ( ! enactm5t ( ?is     
section1 & ea* ye> !reaft]1 an executive

 ag5cy %all submit a report to ,congress
 7& any committee ( jurisdiction7 on1 ) 
respect to ! prior ye>1 funds exp5d$ by 
! ag5cy = adv]tis+ activities &         
und]writ+ activities1 includ+ funds     
exp5d$ by ! ag5cy ) local m$ia 9        
accordance ) subsection 7a74  7d7       
,def9itions ,9 ?is section3 7#a7        
,executive ag5cy ,! t]m executive ag5cy 
has ! mean+ giv5 t t]m 9 section #ajb ( 
title #ca1 ,unit$ ,/ates ,code4  7#b7   
,public broadca/ /ation ,! t]m public   
broadca/ /ation has ! mean+ giv5 ! t]m  
"u section #cig ( ! ,communications ,act
 ( #aicd 7#dg ,u4,s4,c4 #cig74  7#c7    
,und]writ+ activity ,! t]m und]writ+    
activity means a paym5t by an executive 
ag5cy to a public broadca/ /ation1 or to
 support ! production ( programm+ to be 
broadca/ on su* a /ation1 9 ex*ange = or
 ) ! expectation ( an ann\ncem5t on !   
/ation receiv+ su* paym5t or a /ation   
broadca/+ su* programm+ t ackn[l$ges !  
f9ancial support by su* ag5cy ( su*     
/ation or programm+4  #b4 ,small bus9ess

 assi/ance  7a7 ,pay*eck protection     
program ,section #g7;a77#cf77;,d77iv7 ( 
! ,small ,bus9ess ,act 7#ae ,u4,s4,c4   
#fcf7;a77#cf77;,d77iv77 is am5d$-- 7#a7 
9 subclause 7,,ii71 by /rik+ & at ! end2
  7#b7 9 subclause 7,,iii71 by /rik+ !  
p]iod at ! end & ins]t+ 2 &2 &  7#c7 by 
add+ at ! end ! foll[+ new subclause3   
7,,iv7 any bus9ess conc]n ) n m ?an #ejj
 employees t1 z ( ! date on :i* ! cov]$ 
loan is disburs$1 is assign$ a ,nor?    
,am]ican ,indu/ry ,classification ,sy/em
 code ( #eaaaaj1 #eaeaaa1 #eaeaab1 or   
#eaiacj4  4  7b7 ,assi/ance ,!          
,commission %all supply local m$ia :o   
qualify = a loan "u section #g7;a77#cf7 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#fcf7;a77#cf771 or any o!r loan adm9i/]$
 by ! ,small ,bus9ess ,adm9i/ration1 any
 in=mation z may be necess>y to connect 
su* local m$ia ) ! ,small ,bus9ess      
,adm9i/ration4  #c4 ,em]g5cy jobs =     
j\rnalism tax cr$it  7a7 ,9 g5]al ,9 !  
case ( an employ] :i* is a qualifi$     
local m$ia company1 !re %all be all[$ z 

a cr$it aga9/ ! tax impos$ by section   
#caaa7;a7 ( ! ,int]nal ,rev5ue ,code (  
#aihf = ea* cal5d> qu>t] an am\nt equal 
to #cj p]c5t ( ! qualifi$ fir/-ye>      
newsroom wages paid by su* employ] )    
respect to su* cal5d> qu>t]4  7b7       
,limitations & refundability  7#a7      
,doll> limitation p] employee ,!        
aggregate cr$its all[$ "u subsection 7a7
 7= all cal5d> qu>t]s7 %all n exce$     
#bj1jjj ) respect to any employee4  7#b7
 ,cr$it limit$ to c]ta9 employm5t taxes 
,! cr$it all[$ by subsection 7a7 )      
respect to any cal5d> qu>t] %all n exce$
 ! tax impos$ by section #caaa7;a7 ( su*
 ,code = su* cal5d> qu>t] 7r$uc$ by any 
o!r cr$its enact$ be=e ! date ( !       
enactm5t ( ?is ,act :i* are all[$ aga9/ 
su* tax = su* qu>t]7 on ! wages paid )  
respect to ! employm5t ( all employees (
 ! employ]4  7#c7 ,refundability (      
excess cr$it  7,a7 ,9 g5]al ,if ! am\nt 
( ! cr$it "u subsection 7a7 exce$s !    
limitation ( p>agraph 7#b7 = any cal5d> 
qu>t]1 su* excess %all be treat$ z an   

ov]paym5t t %all be refund$ "u sections 
#fdjb7;a7 & #fdac7;b7 ( su* ,code4  7,b7
 ,treatm5t ( paym5ts ,= purposes (      
section #acbd ( title #ca1 ,unit$ ,/ates
 ,code1 any am\nts due to an employ] "u 
?is p>agraph %all be treat$ 9 ! same    
mann] z a refund due f a cr$it provision
 ref]r$ to 9 subsection 7b77#b7 ( su*   
section4  7c7 ,qualifi$ fir/-,ye> wages 
,= purposes ( ?is section1 ! t]m        
qualifi$ fir/-ye> wages means1 ) respect
 to any employee1 wages 7z def9$ 9      
section #ea7;c7 ( ! ,int]nal ,rev5ue    
,code ( #aihf1 )\t reg>d to p>agraph    
7#d7 !re(7 attributable to s]vice r5d]$ 
z su* an employee dur+ ! #a-ye> p]iod   
beg9n+ ) ! day ! individual beg9s "w = !
 employ]1 b only if su* wages are =     
s]vices provid$ 9 ! news division ( su* 
employ]1 includ+ s]vice z a report]1    
/aff writ]1 news produc]1 or eng9e]4    
7d7 ,qualifi$ local m$ia company ,=     
purposes ( ?is section1 ! t]m qualifi$  
local m$ia company means any employ] :i*
 is local m$ia4  7e7 ,c]ta9 individuals 

ineligible  7#a7 ,relat$ individuals    
,rules simil> to ! rules ( section      
#ea7;i77#a7 ( ! ,int]nal ,rev5ue ,code (
 #aihf %all apply = purposes ( ?is      
section4  7#b7 ,nonqualify+ rehires ,no 
wages %all be tak5 into acc\nt "u       
subsection 7a7 ) respect to any employee
 if su* individual _h be5 employ$ by !  
employ] at any "t prior to ! hir+ date (
 su* employee & aft] ! date ( !         
introduction ( ?is ,act4  7f7           
,application ( c]ta9 o!r rules ,except z
 o!rwise provid$ by ! ,secret>y ( !     
,treasury 7or ! ,secret>y's delegate71  
rules simil> to ! rules ( subsections   
7j7 & 7k7 ( section #ea & section #eb   
%all apply = purposes ( ?is section4    
7g7 ,special rules  7#a7 ,d5ial ( d\ble 
b5efit ,= purposes ( *apt] #a ( su*     
,code1 ! gross income ( ! employ]1 = !  
taxable ye> :i* includes ! la/ day ( any
 cal5d> qu>t] ) respect to :i* a cr$it  
is all[$ "u ?is section1 %all be        
increas$ by ! am\nt ( su* cr$it4 ,any   
wages tak5 into acc\nt 9 det]m9+ ! cr$it

 all[$ "u ?is section %all n be tak5    
into acc\nt = purposes ( det]m9+ any o!r
 cr$it all[$ aga9/ any tax impos$ "u !  
,int]nal ,rev5ue ,code ( #aihf4  7#b7   
,election n to h section apply ,?is     
section %all n apply ) respect to any   
employ] = any cal5d> qu>t] if su*       
employ] elects 7at su* "t & 9 su* mann] 
z ! ,secret>y ( ! ,treasury 7or !       
,secret>y's delegate7 may prescribe7 n  
to h ?is section apply4  7#c7 ,c]ta9    
t]ms ,any t]m us$ 9 ?is section :i* is  
also us$ 9 *apt] #ba ( su* ,code 7& is n
 o!rwise def9$ = purposes ( ?is section7
 %all h ! same mean+ z :5 us$ 9 su*     
*apt]4  7h7 ,regulations ,! ,secret>y ( 
! ,treasury 7or ! ,secret>y's delegate7 
%all prescribe su* regulations or o!r   
guidance z may be necess>y to c>ry out !
 purposes ( ?is section1 includ+-- 7#a7 
regulations or o!r guidance to prev5t ! 
avoidance ( ! purposes ( ! limitations  
"u ?is section2  7#b7 regulations or o!r
 guidance to m9imize compliance &       
record-keep+ burd5s "u ?is section2     

7#c7 regulations or o!r guidance provid+
 = waiv] ( p5alties = failure to deposit
 am\nts 9 anticipation ( ! all[ance ( ! 
cr$it all[$ "u ?is section2 &  7#d7     
regulations or o!r guidance = recaptur+ 
! b5efit ( cr$its det]m9$ "u ?is section
 9 cases :]e !re is a subsequ5t adju/m5t
 to ! cr$it det]m9$ "u subsection 7a74  
7i7 ,application ( section ,?is section 
%all apply only to wages paid dur+      
cal5d> qu>t]s end+ aft] ! date ( !      
enactm5t ( ?is ,act & beg9n+ be=e       
,janu>y #a1 #bjbb4  7j7 ,transf]s to    
,f$]al ,old-,age & ,survivors ,insurance
 ,tru/ ,fund ,!re are h]eby appropriat$ 
to ! ,f$]al ,old-,age & ,survivors      
,insurance ,tru/ ,fund & ! ,f$]al       
,disability ,insurance ,tru/ ,fund      
e/abli%$ "u section #bja ( ! ,social    
,security ,act 7#db ,u4,s4,c4 #dja7     
am\nts equal to ! r$uction 9 rev5ues to 
! ,treasury by reason ( ?is section 7)\t
 reg>d to ?is subsection74 ,am\nts      
appropriat$ by ! prec$+ s5t5ce %all be  
transf]r$ f ! g5]al fund at su* times & 

9 su* mann] z to replicate to ! ext5t   
possible ! transf]s :i* w\ld h occurr$  
to su* ,tru/ ,fund _h ?is section n be5 
enact$4  #d4 ,publication ( writt5 news 
articles z tax-exempt purpose  7a7 ,9   
g5]al ,section #eja7;c77#c7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf is am5d$ by      
ins]t+ or = ! publication 7includ+      
electronic publication7 ( writt5 news   
articles by an indep5d5t or             
community-bas$ writt5 news & electronic 
publication1 aft] animals14  7b7 ,income
 f adv]tis+ n unrelat$ bus9ess taxable  
income ,section #eab7;a7 ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new p>agraph3  7#h7   
,special rule applicable to news        
organizations describ$ 9 section        
#eja7;c77#c7 ,9 ! case ( an indep5d5t or
 community-bas$ writt5 news & electronic
 publication :i* is describ$ 9 section  
#eja7;c77#c7 & exempt f tax "u section  
#eja7;a71 ! t]m unrelat$ bus9ess taxable
 income does n include any am\nt        
attributable to paym5ts = adv]tisem5ts 9

 news publications4  4  7c7 ,exp$it$    
application ,section #ejh ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new subsection3  7g7  
,tim+ = approval ( applications by news 
organizations ,9 ! case ( an indep5d5t  
or community-bas$ writt5 news &         
electronic publication :i* is describ$ 9
 section #eja7;c77#c71 ! ,secret>y %all 
approve or d5y su* organization =       
recognition ( #eja7;c77#c7 /atus n lat] 
?an ! date t is #ab mon?s aft] notice is
 giv5 "u subsection 7a74  4  7d7        
,effective date ,! am5dm5ts made by ?is 
section %all apply ) respect to taxable 
ye>s beg9n+ aft] ! date ( ! enactm5t (  
?is ,act4  #e4 ,s5se ( ,congress reg>d+ 
! ,ready to ,le>n program ,x is ! s5se (
 ,congress t ! ,corporation = ,public   
,broadca/+ %\ld1 to ! ext5t possible "u 
! agreem5t ent]$ by ! ,corporation =    
,public ,broadca/+ & ! ,dep>tm5t (      
,education "u section #dfdc ( !         
,elem5t>y & ,second>y ,education ,act ( 
#aife 7#bj ,u4,s4,c4 #gbic71 provide    

programm+ to pres*ool1 elem5t>y1 &      
second>y s*ool *ildr5 t promotes digital
 lit]acy dur+ ! p]iod 9 :i* su* *ildr5  
are unable to att5d s*ool due to !      
,,covid-#ai p&emic4  #f4 ,def9itions ,9 
?is ,act3 7#a7 ,commission ,! t]m       
,commission means ! ,f$]al              
,communications ,commission4  7#b7      
,local m$ia ,! t]m local m$ia means a   
m$ia vehicle 7su* z a newspap]1         
electronic publication1 radio /ation1 or
 television /ation7 t-- 7,a7 prim>ily   
s]ves ! communications ne$s ( regional  
or local communities2 &  7,b7 focuses on
 localiz$ issues & ev5ts4