S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8258
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              August 25, 2021
                                ___________
 
 Introduced  by  M.  of  A.  McDONOUGH  --  read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing tax credits for
   local newspaper subscriptions, newspaper  payrolls,  and  local  media
   advertising;  and  providing for the repeal of certain provisions upon
   expiration thereof

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  606  of  the  tax law is amended by adding a new
 subsection (nnn) to read as follows:
   (NNN) LOCAL NEWSPAPER SUBSCRIPTION TAX CREDIT. (1) ALLOWANCE OF  CRED-
 IT. A TAXPAYER WITH A SUBSCRIPTION TO A LOCAL NEWSPAPER DURING THE TAXA-
 BLE YEAR SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
 CLE IN AN AMOUNT NOT TO EXCEED TWO HUNDRED FIFTY DOLLARS.
   (2) DEFINITIONS. (A) FOR THE PURPOSES OF THIS SUBSECTION, "LOCAL NEWS-
 PAPER"  SHALL  MEAN ANY PRINT OR DIGITAL PUBLICATION IF: (I) THE PRIMARY
 CONTENT OF SUCH PUBLICATION IS ORIGINAL  CONTENT  DERIVED  FROM  PRIMARY
 SOURCES AND RELATING TO NEWS AND CURRENT EVENTS;
   (II)  AT  LEAST  FIFTY-ONE PERCENT OF THE READERS OF SUCH PUBLICATION,
 INCLUDING BOTH PRINT AND DIGITAL VERSIONS, RESIDE IN:
   A. A SINGLE COUNTY WITHIN THIS STATE, OR
   B. A SINGLE AREA WITH A TWO HUNDRED MILE RADIUS;
   (III) AT LEAST FIFTY PERCENT OF SUCH PUBLICATION'S CONTENT IS ORIGINAL
 AND IS CREATED OR PRODUCED BY PERSONS RECEIVING COMPENSATION  FOR  THEIR
 SERVICES FROM SUCH PUBLICATION;
   (IV)  THE  PUBLICATION  EMPLOYS AT LEAST ONE LOCAL NEWS JOURNALIST WHO
 RESIDES IN SUCH COUNTY OR SINGLE AREA; AND
   (V) THE PUBLICATION EMPLOYS NOT GREATER THAN TWO HUNDRED EMPLOYEES.
   THE REQUIREMENTS OF CLAUSES (I) THROUGH (V) OF THIS SUBPARAGRAPH SHALL
 NOT BE TREATED AS MET UNLESS SUCH REQUIREMENTS  ARE  MET  AT  ALL  TIMES

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11843-02-1
              

 A. 8258                             2
 
 DURING  THE  PERIOD  BEGINNING ON THE DATE WHICH IS TWO YEARS BEFORE THE
 EFFECTIVE DATE OF THIS SUBSECTION.
   (B) IN THE CASE OF ANY PRINT OR DIGITAL PUBLICATION WHICH IS PUBLISHED
 BY  ANY  TAX EXEMPT ORGANIZATION, SUCH PUBLICATION SHALL BE TREATED AS A
 LOCAL NEWSPAPER ONLY IF:
   (I) THE PUBLICATION OF PRINT AND DIGITAL PUBLICATIONS IS  THE  PRIMARY
 ACTIVITY OF SUCH ORGANIZATION, AND
   (II)  ANY PERSON MAKING A CHARITABLE CONTRIBUTION TO SUCH ORGANIZATION
 MAY ELECT TO TREAT SUCH CONTRIBUTION AS AN AMOUNT PAID OR INCURRED FOR A
 SUBSCRIPTION TO WHICH THIS SUBSECTION APPLIES IN LIEU OF  TREATING  SUCH
 CONTRIBUTION AS A CHARITABLE CONTRIBUTION.
   §  2. Section 606 of the tax law is amended by adding a new subsection
 (ooo) to read as follows:
   (OOO) NEWSPAPER PAYROLL TAX CREDIT. (1) GENERAL. A TAXPAYER  SHALL  BE
 ALLOWED  A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EACH QUAR-
 TER DURING THE TAXABLE  YEAR  IN  AN  AMOUNT  EQUAL  TO  THE  APPLICABLE
 PERCENTAGE  OF  THE QUALIFIED JOURNALISM COMPENSATION PAID TO EACH INDI-
 VIDUAL FOR SUCH QUARTER.
   (2) AMOUNT OF CREDIT. (A) THE AMOUNT OF QUALIFIED  JOURNALISM  COMPEN-
 SATION  PAID  WITH  RESPECT  TO  ANY  INDIVIDUAL WHICH MAY BE TAKEN INTO
 ACCOUNT UNDER PARAGRAPH ONE OF THIS SUBSECTION DURING ANY QUARTER DURING
 THE TAXABLE YEAR BY THE ELIGIBLE NEWSPAPER  EMPLOYER  SHALL  NOT  EXCEED
 TWELVE THOUSAND FIVE HUNDRED DOLLARS.
   (B)  THE  CREDIT  ALLOWED  BY  PARAGRAPH  ONE  OF THIS SUBSECTION WITH
 RESPECT TO ANY QUARTER DURING THE TAXABLE  YEAR  SHALL  NOT  EXCEED  THE
 APPLICABLE  EMPLOYMENT  TAXES  ON  THE  WAGES  PAID  WITH RESPECT TO THE
 EMPLOYMENT OF ALL THE EMPLOYEES OF THE ELIGIBLE NEWSPAPER  EMPLOYER  FOR
 SUCH QUARTER.
   (C)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
 TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
 SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (3) DEFINITIONS. FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING  TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "APPLICABLE PERCENTAGE" SHALL MEAN:
   (I)  FOR  TAXABLE  YEARS BEGINNING IN TWO THOUSAND TWENTY-TWO, EACH OF
 THE FIRST FOUR QUARTERS DURING THE TAXABLE YEAR TO WHICH THIS SUBSECTION
 APPLIES, FIFTY PERCENT; AND
   (II) FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND  TWENTY-TWO,  EACH
 QUARTER DURING THE TAXABLE YEAR THEREAFTER, THIRTY PERCENT.
   (B)  "ELIGIBLE  NEWSPAPER  EMPLOYER"  SHALL  MEAN, WITH RESPECT TO ANY
 QUARTER DURING THE TAXABLE YEAR, ANY EMPLOYER IF: (I) SUBSTANTIALLY  ALL
 OF THE GROSS RECEIPTS OF SUCH EMPLOYER FOR SUCH QUARTER ARE DERIVED FROM
 THE  TRADE OR BUSINESS OF PRINTING OR PUBLISHING PRINT OR DIGITAL PUBLI-
 CATIONS THE PRIMARY CONTENT OF WHICH IS ORIGINAL  CONTENT  DERIVED  FROM
 PRIMARY SOURCES AND RELATING TO NEWS AND CURRENT EVENTS;
   (II) AT LEAST FIFTY-ONE PERCENT OF THE READERS OF WHICH RESIDE IN:
   A. A SINGLE COUNTY WITHIN THIS STATE; OR
   B. A SINGLE AREA WITH A TWO HUNDRED MILE RADIUS;
   (III) AT LEAST FIFTY PERCENT OF SUCH PUBLICATION'S CONTENT IS ORIGINAL
 AND  IS  CREATED OR PRODUCED BY PERSONS RECEIVING COMPENSATION FOR THEIR
 SERVICES FROM SUCH PUBLICATION;
   (IV) THE PUBLICATION EMPLOYS AT LEAST ONE LOCAL  NEWS  JOURNALIST  WHO
 RESIDES IN SUCH COUNTY OR SINGLE AREA; AND
   (V) THE PUBLICATION EMPLOYS NOT GREATER THAN TWO HUNDRED EMPLOYEES.

 A. 8258                             3
 
   THE REQUIREMENTS OF CLAUSES (I) THROUGH (V) OF THIS SUBPARAGRAPH SHALL
 NOT  BE  TREATED  AS  MET  UNLESS SUCH REQUIREMENTS ARE MET AT ALL TIMES
 DURING THE PERIOD BEGINNING ON THE DATE WHICH IS TWO  YEARS  BEFORE  THE
 EFFECTIVE DATE OF THIS SUBSECTION.
   (C) "QUALIFIED JOURNALISM COMPENSATION" SHALL MEAN:
   (I)  WAGES  PAID  BY AN ELIGIBLE NEWSPAPER EMPLOYER TO AN EMPLOYEE FOR
 SERVICE AS A JOURNALIST; AND
   (II) IN THE CASE OF REMUNERATION PAID TO AN INDIVIDUAL WHO IS  NOT  AN
 EMPLOYEE  OF  THE  EMPLOYER,  SUCH REMUNERATION AS WOULD BE DESCRIBED IN
 SUBPARAGRAPH (A) OF THIS PARAGRAPH  IF  SUCH  INDIVIDUAL  WERE  SUCH  AN
 EMPLOYEE.
   (D)  "JOURNALIST"  SHALL  MEAN  ANY  INDIVIDUAL WHO REGULARLY GATHERS,
 PREPARES, COLLECTS, PHOTOGRAPHS, RECORDS,  WRITES,  EDITS,  REPORTS,  OR
 PUBLISHES NEWS OR INFORMATION THAT CONCERNS LOCAL, NATIONAL, OR INTERNA-
 TIONAL  EVENTS  OR OTHER MATTERS OF PUBLIC INTEREST FOR DISSEMINATION TO
 THE PUBLIC.
   § 3. Section 606 of the tax law is amended by adding a new  subsection
 (ppp) to read as follows:
   (PPP)  LOCAL  MEDIA  ADVERTISING  TAX  CREDIT. (1) GENERAL. A TAXPAYER
 DETERMINED TO BE AN ELIGIBLE SMALL BUSINESS SHALL BE  ALLOWED  A  CREDIT
 AGAINST  THE  TAX  IMPOSED  BY  THIS  ARTICLE FOR ANY TAXABLE YEAR IN AN
 AMOUNT EQUAL TO THE APPLICABLE PERCENTAGE OF THE QUALIFIED  LOCAL  MEDIA
 ADVERTISING EXPENSES PAID OR INCURRED BY SUCH TAXPAYER DURING SUCH TAXA-
 BLE YEAR.
   (2)  AMOUNT  OF CREDIT. THE CREDIT ALLOWED UNDER PARAGRAPH ONE OF THIS
 SUBSECTION TO ANY TAXPAYER FOR ANY TAXABLE YEAR SHALL NOT EXCEED:
   (A) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-TWO, FIVE THOU-
 SAND DOLLARS, AND
   (B) FOR TAXABLE YEARS BEGINNING AFTER  TWO  THOUSAND  TWENTY-TWO,  TWO
 THOUSAND FIVE HUNDRED DOLLARS.
   (3)  DEFINITIONS.  FOR  THE PURPOSES OF THIS SUBSECTION, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "APPLICABLE PERCENTAGE" SHALL MEAN:
   (I) FOR TAXABLE YEARS BEGINNING IN  TWO  THOUSAND  TWENTY-TWO,  EIGHTY
 PERCENT, AND
   (II)  FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND TWENTY-TWO, FIFTY
 PERCENT.
   (B) "ELIGIBLE SMALL BUSINESS" SHALL MEAN ANY PERSON  FOR  ANY  TAXABLE
 YEAR  IF  THE  AVERAGE  NUMBER  OF  FULL-TIME EMPLOYEES EMPLOYED BY SUCH
 PERSON DURING SUCH TAXABLE YEAR WAS LESS THAN ONE THOUSAND EMPLOYEES.
   (C) "QUALIFIED LOCAL MEDIA ADVERTISING EXPENSES"  SHALL  MEAN  AMOUNTS
 PAID  OR  INCURRED  IN  THE  ORDINARY  COURSE OF A TRADE OR BUSINESS FOR
 ADVERTISING IN A LOCAL NEWSPAPER AS DEFINED IN SUBPARAGRAPH (A) OF PARA-
 GRAPH TWO OF SUBSECTION (NNN) OF THIS SECTION OR A BROADCAST OF A  LOCAL
 RADIO OR TELEVISION STATION.
   (D) "LOCAL RADIO OR TELEVISION STATION" SHALL MEAN ANY BROADCAST RADIO
 OR  TELEVISION STATION LICENSED BY THE FEDERAL COMMUNICATIONS COMMISSION
 TO SERVE A LOCAL COMMUNITY.
   (4) DENIAL OF DOUBLE BENEFIT. NO DEDUCTION SHALL BE  ALLOWED  FOR  ANY
 QUALIFIED  LOCAL  MEDIA  ADVERTISING  EXPENSES  OTHERWISE ALLOWABLE AS A
 DEDUCTION FOR THE TAXABLE YEAR WHICH IS EQUAL TO THE AMOUNT OF THE CRED-
 IT DETERMINED  FOR  SUCH  TAXABLE  YEAR  UNDER  PARAGRAPH  ONE  OF  THIS
 SUBSECTION.
   §  4. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a  new  clause  (xlvi)  to  read  as
 follows:

 A. 8258                             4

 (XLVI) LOCAL NEWSPAPER SUBSCRIPTION  AMOUNT OF CREDIT
 TAX CREDIT UNDER SUBSECTION (NNN)    UNDER SUBDIVISION
                                      FIFTY-EIGHT OF
                                      SECTION TWO
                                      HUNDRED TEN-B
   §  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a  new  clause  (xlix)  to  read  as
 follows:
 (XLIX) NEWSPAPER PAYROLL             AMOUNT OF CREDIT
 TAX CREDIT UNDER SUBSECTION (OOO)    UNDER SUBDIVISION
                                      FIFTY-NINE OF
                                      SECTION TWO
                                      HUNDRED TEN-B
   §  6. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a new clause (l) to read as follows:
 (L) LOCAL MEDIA ADVERTISING          AMOUNT OF CREDIT
 TAX CREDIT UNDER SUBSECTION (PPP)    UNDER SUBDIVISION
                                      SIXTY OF SECTION
                                      TWO HUNDRED TEN-B
   § 7. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 58 to read as follows:
   58.  LOCAL NEWSPAPER SUBSCRIPTION TAX CREDIT. (A) ALLOWANCE OF CREDIT.
 A TAXPAYER WITH A SUBSCRIPTION TO A LOCAL NEWSPAPER DURING  THE  TAXABLE
 YEAR  SHALL  BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE
 IN AN AMOUNT NOT TO EXCEED TWO HUNDRED FIFTY DOLLARS.
   (B) DEFINITIONS. (1) FOR THE  PURPOSES  OF  THIS  SUBDIVISION,  "LOCAL
 NEWSPAPER"  SHALL  MEAN  ANY PRINT OR DIGITAL PUBLICATION IF: (I) IF THE
 PRIMARY CONTENT OF SUCH PUBLICATION IS  ORIGINAL  CONTENT  DERIVED  FROM
 PRIMARY SOURCES AND RELATING TO NEWS AND CURRENT EVENTS;
   (II)  AT  LEAST  FIFTY-ONE PERCENT OF THE READERS OF SUCH PUBLICATION,
 INCLUDING BOTH PRINT AND DIGITAL VERSIONS, RESIDE IN:
   (A) A SINGLE COUNTY WITHIN THIS STATE, OR
   (B) A SINGLE AREA WITH A TWO HUNDRED MILE RADIUS;
   (III) AT LEAST FIFTY PERCENT OF SUCH PUBLICATION'S CONTENT IS ORIGINAL
 AND IS CREATED OR PRODUCED BY PERSONS RECEIVING COMPENSATION  FOR  THEIR
 SERVICES FROM SUCH PUBLICATION;
   (IV)  THE  PUBLICATION  EMPLOYS AT LEAST ONE LOCAL NEWS JOURNALIST WHO
 RESIDES IN SUCH COUNTY OR SINGLE AREA; AND
   (V) THE PUBLICATION EMPLOYS NOT GREATER THAN TWO HUNDRED EMPLOYEES.
   THE REQUIREMENTS OF CLAUSES (I) THROUGH (V) OF THIS SUBPARAGRAPH SHALL
 NOT BE TREATED AS MET UNLESS SUCH REQUIREMENTS  ARE  MET  AT  ALL  TIMES
 DURING  THE  PERIOD  BEGINNING ON THE DATE WHICH IS TWO YEARS BEFORE THE
 EFFECTIVE DATE OF THIS SUBDIVISION.
   (2) IN THE CASE OF ANY PRINT OR DIGITAL PUBLICATION WHICH IS PUBLISHED
 BY ANY TAX EXEMPT ORGANIZATION, SUCH PUBLICATION SHALL BE TREATED  AS  A
 LOCAL NEWSPAPER ONLY IF:
   (I)  THE  PUBLICATION OF PRINT AND DIGITAL PUBLICATIONS IS THE PRIMARY
 ACTIVITY OF SUCH ORGANIZATION, AND
   (II) ANY PERSON MAKING A CHARITABLE CONTRIBUTION TO SUCH  ORGANIZATION
 MAY ELECT TO TREAT SUCH CONTRIBUTION AS AN AMOUNT PAID OR INCURRED FOR A
 SUBSCRIPTION  TO WHICH THIS SUBDIVISION APPLIES IN LIEU OF TREATING SUCH
 CONTRIBUTION AS A CHARITABLE CONTRIBUTION.
   § 8. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 59 to read as follows:
   59.  NEWSPAPER  PAYROLL  TAX  CREDIT. (A) GENERAL. A TAXPAYER SHALL BE
 ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EACH  QUAR-

 A. 8258                             5
 
 TER  DURING  THE  TAXABLE  YEAR  IN  AN  AMOUNT  EQUAL TO THE APPLICABLE
 PERCENTAGE OF THE QUALIFIED JOURNALISM COMPENSATION PAID TO  EACH  INDI-
 VIDUAL FOR SUCH QUARTER.
   (B)  AMOUNT  OF CREDIT. (1) THE AMOUNT OF QUALIFIED JOURNALISM COMPEN-
 SATION PAID WITH RESPECT TO ANY  INDIVIDUAL  WHICH  MAY  BE  TAKEN  INTO
 ACCOUNT  UNDER  PARAGRAPH  (A)  OF  THIS  SUBDIVISION DURING ANY QUARTER
 DURING THE TAXABLE YEAR BY THE ELIGIBLE  NEWSPAPER  EMPLOYER  SHALL  NOT
 EXCEED TWELVE THOUSAND FIVE HUNDRED DOLLARS.
   (2)  THE  CREDIT  ALLOWED  BY  PARAGRAPH  (A) OF THIS SUBDIVISION WITH
 RESPECT TO ANY QUARTER DURING THE TAXABLE  YEAR  SHALL  NOT  EXCEED  THE
 APPLICABLE  EMPLOYMENT  TAXES  ON  THE  WAGES  PAID  WITH RESPECT TO THE
 EMPLOYMENT OF ALL THE EMPLOYEES OF THE ELIGIBLE NEWSPAPER  EMPLOYER  FOR
 SUCH QUARTER.
   (3) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY
 TAXABLE  YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
 SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 CHAPTER, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (C) DEFINITIONS. FOR PURPOSES OF THIS SUBDIVISION, THE FOLLOWING TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   (1) "APPLICABLE PERCENTAGE" SHALL MEAN:
   (I)  FOR  TAXABLE  YEARS BEGINNING IN TWO THOUSAND TWENTY-TWO, EACH OF
 THE FIRST FOUR QUARTERS DURING THE TAXABLE YEAR TO WHICH  THIS  SUBDIVI-
 SION APPLIES, FIFTY PERCENT; AND
   (II)  FOR  TAXABLE YEARS BEGINNING AFTER TWO THOUSAND TWENTY-TWO, EACH
 QUARTER DURING THE TAXABLE YEAR THEREAFTER, THIRTY PERCENT.
   (2) "ELIGIBLE NEWSPAPER EMPLOYER" SHALL  MEAN,  WITH  RESPECT  TO  ANY
 QUARTER  DURING THE TAXABLE YEAR, ANY EMPLOYER IF: (I) SUBSTANTIALLY ALL
 OF THE GROSS RECEIPTS OF SUCH EMPLOYER FOR SUCH QUARTER ARE DERIVED FROM
 THE TRADE OR BUSINESS OF PRINTING OR PUBLISHING PRINT OR DIGITAL  PUBLI-
 CATIONS  THE  PRIMARY  CONTENT OF WHICH IS ORIGINAL CONTENT DERIVED FROM
 PRIMARY SOURCES AND RELATING TO NEWS AND CURRENT EVENTS;
   (II) AT LEAST FIFTY-ONE PERCENT OF THE READERS OF WHICH RESIDE IN:
   (A) A SINGLE COUNTY WITHIN THIS STATE; OR
   (B) A SINGLE AREA WITH A TWO HUNDRED MILE RADIUS;
   (III) AT LEAST FIFTY PERCENT OF SUCH PUBLICATION'S CONTENT IS ORIGINAL
 AND IS CREATED OR PRODUCED BY PERSONS RECEIVING COMPENSATION  FOR  THEIR
 SERVICES FROM SUCH PUBLICATION;
   (IV)  THE  PUBLICATION  EMPLOYS AT LEAST ONE LOCAL NEWS JOURNALIST WHO
 RESIDES IN SUCH COUNTY OR SINGLE AREA; AND
   (V) THE PUBLICATION EMPLOYS NOT GREATER THAN TWO HUNDRED EMPLOYEES.
   THE REQUIREMENTS OF CLAUSES (I) THROUGH (V) OF THIS SUBPARAGRAPH SHALL
 NOT BE TREATED AS MET UNLESS SUCH REQUIREMENTS  ARE  MET  AT  ALL  TIMES
 DURING  THE  PERIOD  BEGINNING ON THE DATE WHICH IS TWO YEARS BEFORE THE
 EFFECTIVE DATE OF THIS SUBDIVISION.
   (3) "QUALIFIED JOURNALISM COMPENSATION" SHALL MEAN:
   (I) WAGES PAID BY AN ELIGIBLE NEWSPAPER EMPLOYER TO  AN  EMPLOYEE  FOR
 SERVICE AS A JOURNALIST; AND
   (II)  IN  THE CASE OF REMUNERATION PAID TO AN INDIVIDUAL WHO IS NOT AN
 EMPLOYEE OF THE EMPLOYER, SUCH REMUNERATION AS  WOULD  BE  DESCRIBED  IN
 SUBPARAGRAPH  ONE  OF  THIS  PARAGRAPH  IF  SUCH INDIVIDUAL WERE SUCH AN
 EMPLOYEE.
   (4) "JOURNALIST" SHALL MEAN  ANY  INDIVIDUAL  WHO  REGULARLY  GATHERS,
 PREPARES,  COLLECTS,  PHOTOGRAPHS,  RECORDS,  WRITES, EDITS, REPORTS, OR
 PUBLISHES NEWS OR INFORMATION THAT CONCERNS LOCAL, NATIONAL, OR INTERNA-

 A. 8258                             6
 
 TIONAL EVENTS OR OTHER MATTERS OF PUBLIC INTEREST FOR  DISSEMINATION  TO
 THE PUBLIC.
   §  9. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 60 to read as follows:
   60. LOCAL MEDIA ADVERTISING TAX CREDIT. (A) GENERAL. A TAXPAYER DETER-
 MINED TO BE AN ELIGIBLE SMALL BUSINESS SHALL BE ALLOWED A CREDIT AGAINST
 THE TAX IMPOSED BY THIS ARTICLE FOR ANY TAXABLE YEAR IN AN AMOUNT  EQUAL
 TO  THE  APPLICABLE  PERCENTAGE OF THE QUALIFIED LOCAL MEDIA ADVERTISING
 EXPENSES PAID OR INCURRED BY SUCH TAXPAYER DURING SUCH TAXABLE YEAR.
   (B) AMOUNT OF CREDIT. THE CREDIT ALLOWED UNDER PARAGRAPH (A)  OF  THIS
 SUBDIVISION TO ANY TAXPAYER FOR ANY TAXABLE YEAR SHALL NOT EXCEED:
   (1) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-TWO, FIVE THOU-
 SAND DOLLARS, AND
   (2)  FOR  TAXABLE  YEARS  BEGINNING AFTER TWO THOUSAND TWENTY-TWO, TWO
 THOUSAND FIVE HUNDRED DOLLARS.
   (C) DEFINITIONS. FOR THE PURPOSES OF THIS SUBDIVISION,  THE  FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (1) "APPLICABLE PERCENTAGE" SHALL MEAN:
   (I)  FOR  TAXABLE  YEARS  BEGINNING IN TWO THOUSAND TWENTY-TWO, EIGHTY
 PERCENT, AND
   (II) FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND TWENTY-TWO,  FIFTY
 PERCENT.
   (2)  "ELIGIBLE  SMALL  BUSINESS" SHALL MEAN ANY PERSON FOR ANY TAXABLE
 YEAR IF THE AVERAGE NUMBER  OF  FULL-TIME  EMPLOYEES  EMPLOYED  BY  SUCH
 PERSON DURING SUCH TAXABLE YEAR WAS LESS THAN ONE THOUSAND EMPLOYEES.
   (3)  "QUALIFIED  LOCAL  MEDIA ADVERTISING EXPENSES" SHALL MEAN AMOUNTS
 PAID OR INCURRED IN THE ORDINARY COURSE  OF  A  TRADE  OR  BUSINESS  FOR
 ADVERTISING IN A LOCAL NEWSPAPER AS DEFINED IN SUBPARAGRAPH ONE OF PARA-
 GRAPH (B) OF SUBDIVISION FIFTY-EIGHT OF THIS SECTION OR A BROADCAST OF A
 LOCAL RADIO OR TELEVISION STATION.
   (4) "LOCAL RADIO OR TELEVISION STATION" SHALL MEAN ANY BROADCAST RADIO
 OR  TELEVISION STATION LICENSED BY THE FEDERAL COMMUNICATIONS COMMISSION
 TO SERVE A LOCAL COMMUNITY.
   (D) DENIAL OF DOUBLE BENEFIT. NO DEDUCTION SHALL BE  ALLOWED  FOR  ANY
 QUALIFIED  LOCAL  MEDIA  ADVERTISING  EXPENSES  OTHERWISE ALLOWABLE AS A
 DEDUCTION FOR THE TAXABLE YEAR WHICH IS EQUAL TO THE AMOUNT OF THE CRED-
 IT DETERMINED FOR SUCH TAXABLE YEAR UNDER PARAGRAPH (A) OF THIS SUBDIVI-
 SION.
   § 10. This act shall take effect immediately and shall apply to  taxa-
 ble  years  commencing  on and after January 1, 2022; provided, however,
 that the provisions of sections one, three, four, six, seven and nine of
 this act shall expire on December 31, 2027,  when  upon  such  date  the
 provisions of such sections shall be deemed repealed.