NAB Backs Broadcast VOICES Act

WASHINGTON, D.C.—In response to the introduction of the Broadcast VOICES Act that seeks to encourage more diversity in the ownership of TV and radio stations, the NAB has issued a statement backing the legislation.

Rep. Steven Horsford (D-NV-4) recently introduced H.R.8072, Broadcast Varied Ownership Incentives for Community Expanded Service (VOICES) Act, in the House and Sen. Gary Peters (D-MI) introduced the legislation in the Senate, S.4158 . The bill would reestablish a diversity tax certificate program to incentivize capital investment in women and minority-owned stations, as well as investment in the sale of stations to women and minority purchasers, throughout the broadcast industry.

An earlier 1978 Minority Tax Certificate Policy helped quadruple minority ownership before it was terminated by Congress in 1995.

“Reinstating the diversity tax certificate program is a meaningful step to level the playing field and amplify underrepresented voices in media," NAB president and CEO Curtis LeGeyt said in a statement backing the legislation. " NAB has long been committed to access to capital initiatives that expand radio and television station ownership opportunities, particularly for women and people of color. A tax incentive program is a proven solution that significantly diversified the ranks of broadcast owners over its nearly two decades of existence. Broadcasters thank Sen. Peters and Rep. Horsford for introducing legislation that would reinstate the program and we urge swift passage of this important bill.”