Sen. Brad Hoylman-Sigal, D-New York City, recently introduced legislation (S.6756) that would expand on legislation he sponsored in 2024 that creates a $30 million per year program for three years allowing eligible newspaper and broadcast businesses to receive a 50% refundable tax credit against the first $50,000 of an employee’s salary, up to a total of $300,000 per business. The Local Journalism Act included $4 million to incentivize print and broadcast businesses to hire new journalists. The remaining $26 million will be split evenly between businesses with fewer than 100 employees and those with more than 100 employees, ensuring that hyperlocal, independent news organizations have a fair shot at access to the state money.
After stalling for years, the Local Journalism Sustainability Act moved in the legislature in 2024 after the early-2024 founding of the Empire State Local News Coalition and the coalition’s mobilization of support from hundreds of New York hometown papers as well as a broad range stakeholders from around the country, including the Rebuild Local News Coalition, Microsoft, and El Diario. Organized labor including NYS AFL-CIO, CWA District 1, and national and local news guilds also played a role in mobilizing support for the bill. New York is the first state in the country to pass such a journalism jobs tax credit program.
State Sen. George Borrello, R-Sunset Bay, signed on as a co-sponsor of the 2024 legislation in the state Senate.
Hoylman-Sigal’s update to the legislation would expand the tax credit to non-profit news outlets, with the bill’s text specifically including public television and public radio.