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Full-Text Articles in Law
The Fcc’S Minority Tax Certificate Program: A Proposal For Life After Death, Erwin G. Krasnow, Lisa M. Fowlkes
The Fcc’S Minority Tax Certificate Program: A Proposal For Life After Death, Erwin G. Krasnow, Lisa M. Fowlkes
Federal Communications Law Journal
In 1995, Congress eliminated the Federal Communications Commission’s (FCC) Minority Tax Certificate Program—a nonintrusive method of encouraging increased participation of minority entrepreneurs as owners in the broadcast and cable industries. Since that time, minorities have faced increased difficulties competing in all facets of the communications industry. These difficulties can be attributed to: (1) increased consolidation within the broadcast industry as a result of provisions of the Telecommunications Act of 1996 relaxing certain broadcast ownership limitations; (2) recent court decisions adverse to minority-specific programs; and (3) continued obstacles faced by minorities in accessing sufficient capital to acquire licenses and compete in …
The Value Of The Tax Certificate, Kofi Asiedu Ofori, Mark Lloyd
The Value Of The Tax Certificate, Kofi Asiedu Ofori, Mark Lloyd
Federal Communications Law Journal
Tax certificates are an example of successful incentive regulation. Prior to its repeal in 1995, section 1071 of the Internal Revenue Code permitted the tax-free sale or exchange of media properties to effectuate policies of the Federal Communications Commission. Enacted by Congress in 1943, this provision was originally used to soften the hardship created by involuntary sales of broadcast properties made necessary to reduce ownership concentration in the radio industry. In 1978, the tax certificate was used to promote goals to increase minority ownership of a variety of communications properties. This Article discusses the "value" of tax certificates as a …