The Minority Media and Telecom Council extended its push for...
The Minority Media and Telecom Council extended its push for legislation (CD Sept 9 p9) to bring back tax certificates for companies selling communications properties to minorities and others. “To get movement on a tax certificate, the White House will…
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need to go to Congress,” the group recounted telling FCC Commissioner Mignon Clyburn. “As the expert agency, the FCC should support this as part of its legislative recommendations. The Commission could coordinate with the White House to explain how a tax certificate could make a significant impact on diversity in content and ownership by including it in legislation to incentivize broadcasters to participate in spectrum auctions. An updated version of the policy could address previous concerns by being race neutral, encompassing media and telecom, and capping the deal size and overall program size.” A filing on the meeting was posted Monday to docket 09-182 (http://xrl.us/bmdany). Using a tax certificate, a seller of a broadcast property could use the sale proceeds to buy another station or reduce the basis in depreciable property, before Congress rescinded it.