A new measure being debated in the Illinois General Assembly would create a tax credit for certain news publishers based on the number of reporters they employ.
The proposal from Sen. Steve Stadelman, D-Rockford, is part of a package of policies that he has been working to pass since early this year – although some worry about potential conflicts that could arise from creating new financial relationships between the government and journalists who cover it.
Under Stadelman’s proposal, contained in Senate Bill 3953, the state would offer a tax credit of up to $25,000 for each journalist on a media company’s payroll and up to $30,000 for journalists hired into newly created roles. The credit would only be available to “independently owned” media outlets – making subsidiaries of larger or publicly traded companies ineligible for the credit.
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