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106th CONGRESS
2d Session
S. 3229
To amend the Internal Revenue Code of 1986 to allow a tax credit for
the cost of certain equipment used to convert public television
broadcasting from analog to digital transmission.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
October 24 (legislative day, September 22), 2000
Mr. Kerrey introduced the following bill; which was read twice and
referred to the Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to allow a tax credit for
the cost of certain equipment used to convert public television
broadcasting from analog to digital transmission.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. TAX CREDIT FOR PUBLIC TELEVISION DIGITAL TRANSMISSION
CONVERSIONS.
(a) In General.--Subpart B of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to general business
credits) is amended by adding at the end the following:
``SEC. 45D. CREDIT FOR PUBLIC TELEVISION DIGITAL TRANSMISSION
CONVERSIONS.
``(a) In General.--For purposes of section 38, the amount of the
public television digital transmission conversion credit determined
under this section for an eligible taxpayer for each taxable year in
the credit period with respect to an eligible public television
conversion project shall be an amount equal to \1/6\ of the qualified
conversion equipment costs in connection with such project.
``(b) Eligible Taxpayer; Eligible Public Television Conversion
Project.--For purposes of this section--
``(1) Eligible taxpayer.--The term `eligible taxpayer'
means any limited partnership or limited liability company--
``(A) the sole purpose of which is to acquire
qualified conversion equipment for lease at nominal
rent payments to a public telecommunications entity in
connection with 1 or more eligible public television
conversion projects,
``(B) the general partner, general partners, or
managers of which consist solely of 1 or more qualified
public broadcasting organizations, and
``(C) which makes an irrevocable election (binding
on the eligible taxpayer and all successors in interest
as lessor under the qualified conversion equipment
lease) not to claim depreciation with respect to such
qualified conversion equipment.
``(2) Eligible public television conversion project.--The
term `eligible public television conversion project' means any
project to convert the television broadcasting of a public
telecommunications entity from analog to digital transmission.
``(c) Qualified Conversion Equipment Costs.--For purposes of this
section--
``(1) In general.--The term `qualified conversion equipment
costs' for a taxable year means the aggregate fair market value
of qualified conversion equipment acquired or constructed by an
eligible taxpayer at the direction of, and in full compliance
with such bidding requirements as may be applicable to, a
qualified public broadcasting organization.
``(2) Qualified conversion equipment.--The term `qualified
conversion equipment' means property used by a qualified public
broadcasting organization under a lease with nominal rent
payments with an eligible taxpayer in an eligible public
television conversion project, including--
``(A) transmission towers,
``(B) transmission equipment,
``(C) production equipment, including cameras,
recorders, software and editing systems,
``(D) retransmission equipment,
``(E) transformers, and
``(F) such other property (other than land)
necessarily related to the property described in
subparagraphs (A) through (E) or used for the repair or
maintenance of such property.
``(d) Other Definitions.--For purposes of this section--
``(1) Public telecommunications entity.--The term `public
telecommunications entity' has the meaning given such term by
section 397(12) of the Communications Act of 1934 (47 U.S.C.
397(12)).
``(2) Credit period.--The term `credit period' means, with
respect to any eligible public television conversion project,
the period of 6 taxable years beginning with the first taxable
year the qualified conversion equipment costs of the eligible
taxpayer in connection with such project are taken into
account.
``(3) Qualified public broadcasting organization.--The term
`qualified public broadcasting organization' means--
``(A) a public telecommunications entity, or
``(B) an organization described in section
501(c)(3) and exempt from tax under section 501(a) and
whose exempt purposes include the representation,
promotion, or support of public television stations.
``(e) Special Rule.--A credit shall be allowed under subsection (a)
notwithstanding the provisions of section 183 (activities not engaged
in for profit), section 168(h) (tax-exempt use property), and any
provision of law which would limit the allowance of the credit because
of the terms of any lease or purchase option between an eligible
taxpayer and a public telecommunications entity.
``(f) Regulations.--The Secretary shall prescribe such regulations
as may be necessary or appropriate to carry out the purposes of this
section, including regulations providing for the ratable recapture of
the credit if during the credit period property qualifying for the
credit under this section is disposed of or otherwise ceases to be
qualified conversion equipment.''.
(b) Inclusion in General Business Credit.--
(1) In general.--Section 38(b) of the Internal Revenue Code
of 1986 (relating to current year business credit) is amended
by striking ``plus'' at the end of paragraph (11), by striking
the period at the end of paragraph (12) and inserting ``,
plus'', and by adding at the end the following:
``(13) the public television digital transmission
conversion credit determined under section 45D(a).''.
(2) Transition rule.--Section 39(d) of such Code (relating
to transitional rules) is amended by adding at the end the
following:
``(9) No carryback of section 45d credit before
enactment.--No portion of the unused business credit for any
taxable year which is attributable to the public television
digital transmission conversion credit determined under section
45D may be carried back to a taxable year ending before the
date of the enactment of section 45D.''.
(c) Conforming Amendment.--The table of sections for subpart D of
part IV of subchapter A of chapter 1 of the Internal Revenue Code of
1986 is amended by adding at the end the following new item:
``Sec. 45D. Credit for public television
digital transmission
conversions.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years ending after the date of the enactment of this
Act.
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