The proposed bill, General Assembly Proposed Bill No. 5978, aims to establish a refundable tax credit for news organizations that focus on covering local communities within the state. The bill introduces new legal language that specifies the tax credit amount: $15,000 for each journalist employed by the organization and $25,000 for each new journalist hired. Additionally, there is a cap of $150,000 on the total amount of tax credits that a news organization can receive.

The purpose of this legislation is to support local journalism by providing financial incentives to news organizations that contribute to community coverage. This initiative is intended to bolster the presence of journalists in local areas, thereby enhancing the quality and quantity of news reporting that serves the public interest.