,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #agec  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,febru>y #bg1         
#bjbe,ms4 ,t5ney 7= h]self & ,ms4       
,del,bene7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,ways &     
,means  ,a ,,bill  ,to provide tax      
inc5tives t support local m$ia4  #a4    
,%ort title ,?is ,act may be cit$ z !   
,community ,news & ,small ,bus9ess      
,support ,act4  #b4 ,cr$it = adv]tis+ 9 
local m$ia  7a7 ,9 g5]al ,subp>t ,d ( "p
 ,,iv ( sub*apt] ,a ( *apt] #a ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new section3  
#de;,,bb4 ,adv]tis+ 9 local m$ia  7a7 ,9
 g5]al ,= purposes ( section #ch1 9 !   
case ( any eligible small bus9ess1 !    
local m$ia adv]tis+ cr$it det]m9$ "u ?is
 section = any taxable ye> is an am\nt  
equal to ! applicable p]c5tage ( !      
qualifi$ local m$ia adv]tis+ exp5ses    
paid or incurr$ by ! taxpay] dur+ su*   
taxable ye>4  7b7 ,limitation ,! cr$it  
all[$ "u subsection 7a7 to any taxpay] =

 any taxable ye> %all n exce$-- 7#a7 9 !
 case ( ! fir/ taxable ye> to :i* ?is   
section applies1 #e1jjj1 &  7#b7 9 !    
case ( any subsequ5t taxable ye>1       
#b1ejj4  7c7 ,applicable p]c5tage ,=    
purposes ( ?is section1 ! t]m applicable
 p]c5tage means-- 7#a7 9 ! case ( ! fir/
 taxable ye> to :i* ?is section applies1
 #hj p]c5t1 &  7#b7 9 ! case ( any      
subsequ5t taxable ye>1 #ej p]c5t4  7d7  
,eligible small bus9ess ,= purposes (   
?is section1 ! t]m eligible small       
bus9ess means any p]son = any taxable   
ye> if ! av]age numb] ( full-"t         
employees 7z det]m9$ = purposes (       
det]m9+ :e!r an employ] is an applicable
 l>ge employ] = purposes ( section      
#dihj;,h7c77#b7 ( ! ,int]nal ,rev5ue    
,code ( #aihf7 employ$ by su* p]son dur+
 su* taxable ye> 0 less ?an #ej4  7e7   
,qualifi$ local m$ia adv]tis+ exp5ses ,=
 purposes ( ?is section1 ! t]m qualifi$ 
local m$ia adv]tis+ exp5ses means am\nts
 paid or incurr$ 9 ! ord9>y c\rse ( a   
trade or bus9ess =-- 7#a7 adv]tis+ 9 a  

local newspap]1 or  7#b7 adv]tis+ on any
 broadca/ radio or television /ation    
lic5s$ by ! ,f$]al ,communications      
,commission to s]ve a local community4  
,= purposes ( ?is subsection1 ! t]m     
adv]tis+ includes sponsor%ips4  7f7     
,local newspap] ,= purposes ( ?is       
section-- 7#a7 ,9 g5]al ,! t]m local    
newspap] means any pr9t or digital      
publication if-- 7,a7 ! prim>y cont5t ( 
su* publication is orig9al cont5t d]iv$ 
f prim>y s\rces & relat+ to news &      
curr5t ev5ts1  7,b7 su* publication     
prim>ily s]ves ! ne$s ( a regional or   
local community1  7,c7 ! publi%] ( su*  
publication-- 7i7 employs at lea/ "o    
full-"t local news j\rnali/ :o resides 9
 su* regional or local community1  7ii7 
employs n great] ?an #gej employees1 &  
7iii7 is n-- 7,i7 an organization       
describ$ 9 p>agraph 7#d71 7#e71 or 7#f7 
( section #eja7;c71  7,,ii7 a political 
organization 7z def9$ 9 section         
#ebg7;e771  7,,iii7 any organization    
controll$ by "o or m organizations      

describ$ 9 subclauses 7,i7 or 7,,ii71 or
  7,,iv7 any organization t receiv$ m   
?an #ajj1jjj 79 ! aggregate7 f          
organizations describ$ 9 subclauses     
7,i71 7,,ii71 or 7,,iii7 dur+ ! taxable 
ye> or any prec$+ taxable ye>4  7#b7    
,local news j\rnali/ ,= purposes (      
p>agraph 7#a77;,c77i71 ! t]m local news 
j\rnali/ means any individual :o        
regul>ly ga!rs1 prep>es1 produces1      
collects1 edits1 photographs1 records1  
directs ! record+ (1 writes1 pres5ts1 or
 reports news or in=mation t conc]ns    
local ev5ts or o!r matt]s ( local public
 int]e/4  7#c7 ,aggregation rule  7,a7  
,9 g5]al ,= purposes ( clauses 7ii7 &   
7iii7 ( p>agraph 7#a77;,c71 all p]sons  
treat$ z a s+le employ] "u subsection   
7a7 or 7b7 ( section #eb1 or subsection 
7m7 or 7o7 ( section #dad1 %all be      
treat$ z "o p]son4  7,b7 ,exception     
,subp>agraph 7,a7 %all n apply unless   
su* p]sons are involv$ 9 ! production ( 
! same pr9t or digital publication4     
7#d7 ,cont9u\s qualification ,!         

requirem5ts ( p>agraph 7#a77;,c7 %all n 
be treat$ z met unless su* requirem5ts  
are met at all times dur+ ! p]iod beg9n+
 on ! date :i* is #a ye> be=e ! date ( !
 enactm5t ( ?is section & end+ on ! date
 t ! subscription describ$ 9 subsection 
7a7 is paid or incurr$4  7g7 ,special   
rules  7#a7 ,d5ial ( d\ble b5efit ,no   
d$uction %all be all[$ = any qualifi$   
local m$ia adv]tis+ exp5ses o!rwise     
all[able z a d$uction = ! taxable ye>   
:i* is equal to ! am\nt ( ! cr$it       
det]m9$ = su* taxable ye> "u subsection 
7a74  7#b7 ,aggregation rule ,all p]sons
 treat$ z a s+le employ] "u subsection  
7a7 or 7b7 ( section #eb ( ! ,int]nal   
,rev5ue ,code ( #aihf1 or subsection 7m7
 or 7o7 ( section #dad ( su* ,code1 %all
 be treat$ z "o p]son = purposes (      
apply+ subsection 7b74  7h7 ,t]m9ation  
,no cr$it %all be all[$ "u ?is section =
 any am\nt paid or incurr$ 9 a taxable  
ye> end+ aft] ! close ( #e-ye> p]iod    
beg9n+ on ! date ( ! enactm5t ( ?is     
section4  4  7b7 ,cr$it all[$ z "p (    

g5]al bus9ess cr$it ,section #ch7;b7 (  
su* ,code is am5d$ by /rik+ plus at !   
end ( p>agraph 7#dj71 by /rik+ ! p]iod  
at ! end ( p>agraph 7#da7 & ins]t+ 1    
plus1 & by add+ at ! end ! foll[+ new   
p>agraph3  7#db7 9 ! case ( an eligible 
small bus9ess1 ! local m$ia adv]tis+    
cr$it det]m9$ "u section #de;,,bb7a74  4
  7c7 ,cl]ical am5dm5t ,! table (       
sections = subp>t ,d ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #de;,,bb4 ,adv]tis+ 9 local
 m$ia4  4  7d7 ,effective date ,!       
am5dm5ts made by ?is section %all apply 
to am\nts paid or incurr$ 9 taxable ye>s
 beg9n+ aft] ! date ( ! enactm5t ( ?is  
,act4  #c4 ,payroll cr$it = comp5sation 
( local news j\rnali/  7a7 ,9 g5]al     
,sub*apt] ,d ( *apt] #ba ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3  #cace4  
,local news j\rnali/ comp5sation cr$it  
7a7 ,9 g5]al ,9 ! case ( an eligible    
local news j\rnali/ employ]1 !re %all be

 all[$ z a cr$it aga9/ applicable       
employm5t taxes = ea* cal5d> qu>t] an   
am\nt equal to ! applicable p]c5tage ( !
 wages paid by su* employ] to local news
 j\rnali/s = su* cal5d> qu>t]4  7b7     
,limitations & refundability  7#a7      
,limitation on numb] ( local news       
j\rnali/s tak5 into acc\nt ,! numb] (   
employees ( any eligible local news     
j\rnali/ employ] :i* are tak5 into      
acc\nt z local news j\rnali/s "u        
subsection 7a7 = any cal5d> qu>t] %all n
 exce$ #a1ejj4  7#b7 ,limitation on     
wages tak5 into acc\nt ,! am\nt ( wages 
paid ) respect to any individual :i* may
 be tak5 into acc\nt "u subsection 7a7  
dur+ any cal5d> qu>t] by ! eligible     
local news j\rnali/ employ] %all n exce$
 #ab1ejj4  7#c7 ,cr$it limit$ to        
employm5t taxes ,! cr$it all[$ by       
subsection 7a7 ) respect to any cal5d>  
qu>t] %all n exce$ ! applicable         
employm5t taxes 7r$uc$ by any cr$its    
all[$ "u sections #caca1 #cacb1 & #cacd7
 on ! wages paid ) respect to !         

employm5t ( all ! employees ( ! eligible
 local news j\rnali/ employ] = su*      
cal5d> qu>t]4  7#d7 ,refundability (    
excess cr$it ,if ! am\nt ( ! cr$it "u   
subsection 7a7 exce$s ! limitation (    
p>agraph 7#c7 = any cal5d> qu>t]1 su*   
excess %all be treat$ z an ov]paym5t t  
%all be refund$ "u sections #fdjb7;a7 & 
#fdac7;b74  7c7 ,def9itions ,= purposes 
( ?is section-- 7#a7 ,applicable        
p]c5tage ,! t]m applicable p]c5tage     
means-- 7,a7 9 ! case ( ea* ( ! fir/ #d 
cal5d> qu>t]s to :i* ?is section        
applies1 #ej p]c5t2 &  7,b7 9 ! case (  
ea* cal5d> qu>t] !reaft]1 #cj p]c5t4    
7#b7 ,eligible local news j\rnali/      
employ] ,! t]m eligible local news      
j\rnali/ employ] means1 ) respect to any
 cal5d> qu>t]1 any employ] if           
sub/antially all ( ! gross receipts (   
su* employ] = su* cal5d> qu>t] are d]iv$
 9 ! trade or bus9ess ( publi%+ local   
newspap]s 7z def9$ 9 section            
#de;,,bb7f774  7#c7 ,local news j\rnali/
 ,! t]m local news j\rnali/ means1 )    

respect to any eligible local news      
j\rnali/ employ] = any cal5d> qu>t]1 any
 individual :o provides at lea/ #bjj    
h\rs ( s]vice z a local news j\rnali/ 7z
 def9$ 9 section #de;,,bb7f77#b77 dur+  
su* cal5d> qu>t] to su* eligible local  
news j\rnali/ employ]4  7#d7 ,applicable
 employm5t taxes ,! t]m applicable      
employm5t taxes means ! foll[+3 7,a7 ,! 
taxes impos$ "u section #caaa7;b74  7,b7
 ,s mu* ( ! taxes impos$ "u section     
#cbba7;a7 z are attributable to ! rate 9
 effect "u section #caaa7;b74  7d7      
,aggregation rule  7#a7 ,9 g5]al ,all   
p]sons treat$ z a s+le employ] "u       
subsection 7a7 or 7b7 ( section #eb ( ! 
,int]nal ,rev5ue ,code ( #aihf1 or      
subsection 7m7 or 7o7 ( section #dad (  
su* ,code1 %all be treat$ z "o employ] =
 purposes ( ?is section4  7#b7          
,exception ,p>agraph 7#a7 %all n apply  
unless su* p]sons are involv$ 9 !       
production ( ! same pr9t or digital     
publication4  7e7 ,c]ta9 rules to apply 
,= purposes ( ?is section-- 7#a7 ,9     

g5]al ,rules simil> to ! rules (        
sections #ea7;i77#a7 & #bhj;,c7a7 ( !   
,int]nal ,rev5ue ,code ( #aihf %all     
apply4  7#b7 ,exception to relat$ p>ty  
rules ,9 ! case ( an eligible local news
 j\rnali/ employ] :i* employs few] ?an  
#ae local news j\rnali/s dur+ ! cal5d>  
qu>t]1 p>agraph 7#a7 %all be appli$ )\t 
reg>d to ! ref]5ce to section           
#ea7;i77#a74  7f7 ,c]ta9 gov]nm5tal     
employ]s ,?is cr$it %all n apply to !   
,gov]nm5t ( ! ,unit$ ,/ates1 ! gov]nm5t 
( any ,/ate or political subdivision    
!re(1 or any ag5cy or in/rum5tality (   
any ( ! =ego+4  7g7 ,election to h      
section n apply ,?is section %all n     
apply ) respect to any eligible local   
news j\rnali/ employ] = any cal5d> qu>t]
 if su* p]son elects 7at su* "t & 9 su* 
mann] z ! ,secret>y may prescribe7 n to 
h ?is section apply4  7h7 ,special rules
  7#a7 ,employee n tak5 into acc\nt m   
?an once ,an employee %all n be includ$ 
= purposes ( ?is section = any p]iod )  
respect to any employ] if su* employ] is

 all[$ a cr$it "u section #ea ( !       
,int]nal ,rev5ue ,code ( #aihf ) respect
 to su* employee = su* p]iod4  7#b7     
,d5ial ( d\ble b5efit ,any wages tak5   
into acc\nt 9 det]m9+ ! cr$it all[$ "u  
?is section %all n be tak5 into acc\nt =
 purposes ( det]m9+ ! cr$it all[$ "u    
section #da1 #de;,a1 #de,p1 #de,s1 or   
#acif4  7#c7 ,?ird-p>ty payors ,any     
cr$it all[$ "u ?is section %all be      
treat$ z a cr$it describ$ 9 section     
#ceaa7;d77#b74  7#d7 ,treatm5t (        
deposits ,! ,secret>y %all waive any    
p5alty "u section #ffef ( ! ,int]nal    
,rev5ue ,code ( #aihf = any failure to  
make a deposit ( any applicable         
employm5t taxes if ! ,secret>y det]m9es 
t su* failure 0 due to ! reasonable     
anticipation ( ! cr$it all[$ "u ?is     
section4  7#e7 ,ext5sion ( limitation on
 assessm5t ,not)/&+ section #feja1 !    
limitation on ! "t p]iod = ! assessm5t (
 any am\nt attributable to a cr$it      
claim$ "u ?is section %all n expire be=e
 ! date t is #e ye>s aft] ! lat] (--    

7,a7 ! date on :i* ! orig9al return :i* 
includes ! cal5d> qu>t] ) respect to :i*
 su* cr$it is det]m9$ is fil$1 or  7,b7 
! date on :i* su* return is treat$ z    
fil$ "u section #feja7;b77#b74  7i7     
,regulations & guidance ,! ,secret>y    
%all issue su* =ms1 in/ructions1        
regulations1 & guidance z are necess>y--
 7#a7 ) respect to ! application ( !    
cr$it "u subsection 7a7 to ?ird-p>ty    
payors 7includ+ pr(essional employ]     
organizations1 c]tifi$ pr(essional      
employ] organizations1 or ag5ts "u      
section #cejd ( ! ,int]nal ,rev5ue ,code
 ( #aihf71 includ+ regulations or       
guidance all[+ su* payors to submit     
docum5tation necess>y to sub/antiate !  
eligible employ] /atus ( employ]s t use 
su* payors1 &  7#b7 to prev5t !         
avoidance ( ! purposes ( ! limitations  
"u ?is section1 includ+ ?r\gh !         
leaseback ( employees4  ,any =ms1       
in/ructions1 regulations1 or o!r        
guidance describ$ 9 p>agraph 7#b7 %all  
require ! cu/om] to be responsible = !  

acc\nt+ ( ! cr$it & = any liability =   
improp]ly claim$ cr$its & %all require !
 c]tifi$ pr(essional employ]            
organization or o!r ?ird p>ty payor to  
accurately report su* tax cr$its bas$ on
 ! in=mation provid$ by ! cu/om]4  7j7  
,application ,?is section %all n apply  
to any cal5d> qu>t] beg9n+ m ?an #e ye>s
 aft] ! date ( ! enactm5t ( ?is section4
  4  7b7 ,con=m+ am5dm5ts  7#a7 ,section
 #acbd7;b77#b7 ( title #ca1 ,unit$      
,/ates ,code1 is am5d$ by ins]t+ #cace1 
aft] #cacd14  7#b7 ,! table ( sections =
 sub*apt] ,d ( *apt] #ba ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+3  ,sec4 #cace4 ,local 
news j\rnali/ comp5sation cr$it4  4  7c7
 ,effective date ,! am5dm5ts made by ?is
 section %all apply to cal5d> qu>t]s    
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4