I'm elated that the State Legislature passed our first-in-the-nation Newspaper and Broadcast Media Jobs Program tax incentive in this year's state budget, said state Senator Brad Hoylman-Sigal...
This new initiative will help strengthen local news coverage by creating a $90 million tax credit to hire and retain journalists for qualifying, independently owned print media or broadcasting entities...
Under the program, New York's newsrooms will receive $30 million a year over the next three years. Eligible outlets can receive a 50% refundable credit toward the first $50,000 of a journalist's salary...
The bill specifically allocates $4 million to incentivize print and broadcast outlets to hire new journalists, and the remaining $26 million will be split evenly among the outlets...
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