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Committee reserves bill creating refundable tax credit for local news for public hearing

2334268 · February 18, 2025
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Summary

The Finance, Revenue and Bonding Committee voted to reserve House Bill 5978 for a subject matter public hearing after a roll-call vote of 24-10.

The Finance, Revenue and Bonding Committee voted to reserve House Bill 5978 for a subject matter public hearing during its meeting, advancing the bill to the committee’s hearing phase after a roll-call vote of 24-10.

The bill, described in committee remarks as “an act establishing a refundable tax credit for news organizations that cover local communities in the state,” was the subject of brief debate before the roll call. A committee member said concerns remain that state funding could create or be perceived as “undue influence” on journalism and that taxpayers already face heavy burdens. “For journalism to succeed we want to see it be free of, influence direct or indirect from the state government or any levels of government, and funding it, to the tune of potentially tens of thousands of dollars, could provide an undue influence on the industry, on journalists,” the committee member said during the discussion.

Senator Fonfaro moved to reserve the bill for a subject matter public hearing; Representative Farrar seconded the motion. The committee clerk called a roll; the motion passed 24-10. The committee chair noted votes would be held open until 5 p.m.

The committee did not adopt the bill itself; reserving a bill for a subject matter hearing means the panel will take written testimony and hold a formal hearing before any committee decision on passage. The committee also scheduled its first public hearing phase to begin on Feb. 26 at 11:00 a.m., a schedule the chair discussed near the end of the meeting.

Key details discussed in committee remarks were limited to the bill’s purpose and concerns about separation between government and the press and potential state budget impacts. No dollar amounts, program administration details, or eligibility criteria for the tax credit were provided in the meeting record.

The committee’s action advances HB 5978 toward a formal hearing where proponents, opponents and agency staff can provide testimony and additional details.