Independent Programmers Tax Incentive Act

Tax Credits for Eligible Distributors: Eligible distributors, such as cable operators or virtual distributors, can receive a tax credit for entering into agreements for the carriage of independent programmers (Section 2(a)).

Support for Independent Programmers: The bill provides an incentive for the carriage of new or expanded linear video programming streams from qualified independent programmers, which are defined as United States-s-based persons not associated with publicly traded companies or large networks (Section 2(c)(6)).

Increased Oversight and Recommendations: The FCC is required to submit reports every two years that include recommendations on how to increase the number of qualified independent programmers (Section 3(a)).

Restrictions on Credit Eligibility: To qualify for the credit, a "qualified independent programmer" must not be a publicly traded company, a network, or a large television station company, which limits the pool of those who can benefit from the incentive (Section 2(c)(6)).

Specific Requirements for Agreements: For an agreement to count toward the credit, the carriage must reach at least 40 percent of the eligible distributor's subscriber base in aggregate, which may be a high threshold for some (Section 2(c)(5)).

Prevention of Double Benefits: The law explicitly prohibits taxpayers from taking a deduction for any amount that is being claimed as a credit under this section (Section 2(c)(7)).