The New York State Legislature passed a first-of-its-kind employment tax credit plan Saturday aimed at providing financial support for news media outlets in the state. The bipartisan plan offers a statewide total of $30 million in credits each year for three years (a $90 million total commitment) that can be used to cover one-half of a journalist’s salary, up to $50,000 per year. (TheWrap)
Broadcast and print newsrooms will receive subsides based on their size. Publicly traded corporations are excluded from eligibility. (Axios)
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