Broadcast VOICES Act

The Broadcast VOICES Act creates a new tax incentive program to increase ownership of broadcast stations (TV and radio) by socially disadvantaged individuals, defined as women or those who have experienced racial/ethnic prejudice. It establishes an FCC certification process for qualifying sales that result in or preserve ownership by these groups, with a $50 million maximum sale value limit and a required 2-3 year holding period after purchase. The bill provides tax benefits by treating qualifying sales as "involuntary conversions" for tax purposes and creates a new tax credit for contributions to organizations training socially disadvantaged individuals in broadcast management. The FCC must report annually on program implementation and submit periodic reports to Congress on progress toward increasing diversity in broadcast ownership.