Subscribe to Local News Act of 2021
Bill: H.R.6045 | Sponsor: Rep. Miller-Meeks, Mariannette (R-IA)
Policy area: Taxation

Summary:
Subscribe to Local News Act of 2021
This bill allows individual taxpayers a nonrefundable tax credit through 2026 for 100% of expenses, up to $200 in any taxable year, incurred for a local newspaper subscription.
The bill defines local newspaper as a print or digital publication that primarily serves a regional community and has a daily circulation of less than 10,000.

To amend the Internal Revenue Code of 1986 to provide for a tax credit 
                      for newspaper subscriptions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Subscribe to Local News Act of 
2021''.

SEC. 2. CREDIT FOR NEWSPAPER EXPENSES.

    (a) In General.--Subpart A of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting after 
section 25D the following new section:

``SEC. 25E. CREDIT FOR NEWSPAPER EXPENSES.

    ``(a) Allowance of Credit.--In the case of an individual, there 
shall be allowed as a credit against the tax imposed by this chapter 
for the taxable year an amount equal to 100 percent of the qualified 
expenses paid or incurred by such individual during the taxable year.
    ``(b) Qualified Expenses.--For purposes of this section--
            ``(1) In general.--The term `qualified expenses' means 
        expenses for a local newspaper subscription.
            ``(2) Local newspaper.--The term `local newspaper' means a 
        print or digital publication that primarily serves a regional 
        community and has a daily circulation of less than 10,000.
            ``(3) Dollar limitation.--The amount taken into account as 
        qualified expenses for any taxable year shall not exceed $200.
    ``(c) Termination.--No credit shall be allowed under this section 
for any taxable year beginning after December 31, 2026.''.
    (b) Clerical Amendment.--The table of sections for subpart A of 
part IV of subchapter A of chapter 1 is amended by inserting after the 
item relating to section 25D the following new item:

``Sec. 25E. Credit for newspaper expenses.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2021.

SEC. 3. DEDUCTION FOR ADVERTISING AND CONTRIBUTIONS TO LOCAL 
              NEWSPAPERS.

    (a) In General.--Part VI of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by adding at the end the 
following new section:

``SEC. 199B. DEDUCTION FOR ADVERTISING AND DONATIONS TO LOCAL 
              NEWSPAPERS.

    ``(a) In General.--There shall be allowed as a deduction for the 
taxable year an amount equal to the amounts paid or incurred by the 
taxpayer during the taxable year for advertising with, or donations to, 
any local newspaper (as such term is defined in section 25E(b)(2)).
    ``(b) Limitation.--The amount allowed as a deduction under 
subsection (a) for a taxable year shall not exceed shall not exceed 
$1,000.
    ``(c) Termination.--No deduction shall be allowed under this 
section for any taxable year beginning after December 31, 2026.''.
    (b) Clerical Amendment.--The table of sections for part VI of 
subchapter B of chapter 1 of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new item:

``Sec. 199B. Deduction for advertising and donations to local 
                            newspapers.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2021.
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