AN ACT ESTABLISHING A REFUNDABLE TAX CREDIT FOR NEWS ORGANIZATIONS THAT COVER LOCAL COMMUNITIES IN THE STATE.

HB 5978 creates a refundable tax credit for news organizations covering local communities in the state. It provides $15,000 per existing journalist employed by such an organization and $25,000 per new journalist hired in the state, with a maximum credit of $150,000 per organization. The credit directly benefits local news outlets struggling to maintain staff, particularly those expanding coverage through new hires. This policy change aims to support community journalism by reducing operational costs through direct financial assistance.