118th Congress · HOUSE BILLBILL

H.R. 7306 — Saving Local News Act

“To amend the Internal Revenue Code of 1986 to include publication of written news articles as a tax-exempt purpose for organizations, and for other purposes.”

Taxation

Introduced Feb 9, 2024

Last action Feb 9, 2024

Pipeline · Bill → Law

Step 1

Introduced

Feb 9, 2024

Step 2

Referred

Feb 9, 2024

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill includes as a tax-exempt 501(c)(3) charitable organization purpose the publication (including electronic publication) of written news articles. In the case of an organization that is tax-exempt due to the publication of written news articles, the term unrelated business taxable income does not include any amount attributable to payments for advertisements in news publications.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Feb 9, 2024

Introduced in House

Feb 9, 2024

Referred to the House Committee on Ways and Means.