Broadcast VOICES Act

The Broadcast VOICES Act creates a new tax certificate program to encourage broadcast station ownership by socially disadvantaged individuals (defined as women or people who have faced racial/ethnic prejudice). It requires the Federal Communications Commission to submit biennial reports to Congress on the number of minority and women-owned broadcast stations and to provide recommendations for increasing such ownership. The program establishes rules including a $50 million limit on qualifying sales, a 2-3 year minimum holding period for stations owned by socially disadvantaged individuals, and tax benefits treating qualifying sales as "involuntary conversions" for tax purposes. The bill also creates a tax credit for contributions to entities training socially disadvantaged individuals in broadcast management. The tax provisions of the bill will expire 16 years after enactment.