Local Journalism Sustainability Act

Tax Credits for Newspaper Subscriptions: Individuals can receive a tax credit for paying for local newspaper subscriptions for personal use, which can be up to $250 per year (Section 2).

Support for News Journalists: Local newspaper publishers can claim a payroll credit for wages paid to local news journalists, which can be up to $12,500 per quarter (Section 3).

Small Business Advertising Incentives: Eligible small businesses can receive a credit for advertising expenses paid for local newspapers or local radio and television stations, with limits of $5,000 in the first year and $2,500 in subsequent years (Section 4).

Charitable Contribution Flexibility: For certain organizations where publishing is the primary activity, individuals may elect to treat charitable contributions as subscription payments to qualify for the tax credit (Section 2).

Limited Duration of Benefits: The various tax credits provided in the bill are set to expire after a five-year period (Section 2, Section 4).

Strict Eligibility Requirements for Publishers: To qualify as a local newspaper, a publication must meet specific criteria, such as employing no more than 750 employees (Section 2).

Strict Eligibility Requirements for Small Businesses: The advertising credit is only available to "eligible small businesses," defined as those with an average of fewer than 50 full-time employees (Section 4).

Restrictions on Journalists: To qualify for the payroll credit, a local news journalist must provide at least 100 hours of service during a calendar quarter (Section 3).