Newsom holds the key to California tax credits worth up to $20,000 per journalist

California lawmakers have sent Governor Gavin Newsom a proposal that could give eligible news organizations tax credits of up to $20,000 for each journalist they employ. The measure also includes incentives for new hires.

AB 2222 seeks to support local news organizations in crisis through refundable credits tied to the number of people they employ. If Newsom signs it, the plan would become the largest media relief program of its kind in the United States to date, according to the article.

The bill was introduced by Assembly members Chris Ward and Buffy Wicks. It followed an estimated loss of 75% of local journalists per 100,000 residents in the United States since 2002. The Senate approved the measure on Sunday, while the Assembly narrowly approved amended language on Monday and sent it to the governor.

“This measure is a safety net for media organizations on the verge of closing,” former state Senator Steve Glazer said, according to the Los Angeles Times.

The proposal sets strict conditions for access. Journalists would need to reside in California, and their primary duties would have to include gathering, preparing, recording, producing, photographing, writing, editing, reporting, or publishing news of community or state interest. Full-time workers would need to work at least 30 hours a week for more than 26 weeks and receive annualized pay of at least $35,000. Any credit exceeding a taxpayer’s liability could be applied to other state debts, with any remaining balance refunded directly.

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This measure is a safety net for media organizations on the verge of closing.