BILL NUMBER: S9285
SPONSOR: BAILEY
 
TITLE OF BILL:
An act to amend the economic development law, in relation to the newspa-
per and broadcast media jobs program
 
PURPOSE:
To support New York's independent non-profit publications, public,
educational, and government access channels, and public radio and tele-
vision stations at a moment when the federal government is actively
undermining public media and attacking the foundations of a free and
independent press.
 
SUMMARY OF PROVISIONS:
Section one of the bill amends subdivision 10 of § 492 of the economic
development law and adds a new subdivision 14 to add nonprofit organiza-
tions as part of the definition of "net employee increase" and define an
"eligible nonprofit news media organization."
Section two of the bill amends § 496 of the economic development law to
add to the powers and duties of the commissioner the provisions of the
nonprofit news media jobs grant program
Section three of the bill adds § 497, § 498, § 499, and § 500 to create
the "Nonprofit News Media Jobs Formula Grant Fund," establish grant
eligibility criteria, the nonprofit news media jobs grant structure, and
the grant application and approval process
Section four of the bill provides the effective date.
 
JUSTIFICATION:
The Local Journalism Sustainability Act was included in the enacted
budget of FY2024-25 creating the Newspaper and Broadcast Media Jobs
Program.The Newspaper and Broadcast Media Jobs Program will provide
meaningful tax credits to help for-profit news outlets hire and retain
journalists.This bill creates a parallel grant program to support New
York's nonprofit news organizations who are under attack by the adminis-
tration in Washington.The Nonprofit News Media Jobs Formula Grant Fund
would create a $15 million grant program, modeled directly on the exist-
ing commercial news tax credit.It would preserve jobs, stabilize news-
rooms, protect editorial independence, and ensure that the State's prior
investment in local journalism is applied comprehensively.
 
PRIOR LEGISLATIVE HISTORY:
New bill.
 
FISCAL IMPLICATIONS:
$15 million
 
EFFECTIVE DATE:
This act shall take effect on the one hundred eightieth day after becom-
ing law.Effective immediately, the addition, amendment and/or repeal of
any rule or regulation necessary for the implementation of this act on
its effective date are authorized to be made and completed on or before
such effective date.

Statutes affected:
S9285: 492 economic development law, 492(10) economic development law, 496 economic development law