SB 3592

Abstract

Creates the Strengthening Community Media Act. Provides that a State agency shall direct at least 50% of its total spending on advertising to local news organization publications. Sets forth exceptions and reporting requirements. Provides that a local news organization shall not be sold to an out-of-state company without giving written notice 120 days before the sales occurs to specified individuals and organizations. Amends the Illinois Income Tax Act. Provides that a taxpayer that is an eligible news journalist employer shall be allowed a credit against the Personal Property Tax Replacement Income Tax for each qualified journalist hired by the eligible news journalist employer during the taxable year. Provides that an eligible news journalist employer is entitled to a credit against taxes in an amount equal to 50% of the wages paid for up to 150 qualified journalists. Provides that an eligible small business is entitled to a credit against taxes in an amount equal to the amount paid by the eligible small business to local newspapers or broadcasters for advertising in the State. Amends the Higher Education Student Assistance Act. Creates the Journalism Student Scholarship Program. Provides that the Illinois Student Assistance Commission shall award scholarships to students who will work at a local news organization in the State for a period of not less than 2 years. Senate Committee Amendment No. 1 Deletes reference to: 35 ILCS 5/201 35 ILCS 5/241 new 35 ILCS 5/242 new Replaces everything after the enacting clause. Creates the Strengthening Community Media Act. Provides that a local news organization shall not be sold to a company without giving written notice 120 days before the sales occurs to specified individuals and organizations. Amends the Higher Education Student Assistance Act. Creates the Journalism Student Scholarship Program. Provides that the Illinois Student Assistance Commission shall award scholarships to students who will work at a local news organization in the State for a period of not less than 2 years. House Floor Amendment No. 1 Provides that the Illinois Student Assistance Commission shall implement and administer the Journalism Student Scholarship Program not sooner than the 2025-2026 academic year.