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Bill

H 377

An act relating to the local media advertising tax credit

2025-2026 Regular Session Introduced by Chea Evans and 1 co-sponsor

Establish a local media advertising tax credit to reduce the after-tax cost of advertising for eligible local media entities.

Read first time and referred to the Committee on Ways and Means
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WeVote Research Nonpartisan
Bill Summary · H 377

Overview

House Bill 377 (H.377), introduced in the 2025-2026 Vermont legislative session, relates to establishing a local media advertising tax credit. The bill aims to support local media by providing a tax credit for advertising purchases made by eligible local media entities. The sponsors include Chea Evans and Barbara Rachelson (co-sponsors).

Purpose and intent

  • Create a tax credit designed to incentivize advertising purchases with local media outlets.
  • Support the financial viability of local newspapers, radio, television, and other locally focused media by reducing the after-tax cost of advertising.
  • Promote local information dissemination and community-oriented media activity.

Key provisions and changes

  • Establishment of a local media advertising tax credit.
  • Eligible claimants: local media entities may qualify for the credit when they engage in advertising purchases. (Exact eligibility criteria, including what constitutes “local” media and which entities can claim the credit, would be defined in the bill’s text.)
  • Credit amount: The bill would specify the dollar value or percentage of qualified advertising expenditures that can be claimed as a credit. The precise cap, calculation method, and any tiered structure would be detailed in the statute.
  • Limitations and caps: Potential annual limits on the total credits available, per-entity caps, and any restrictions on claiming credits for certain types of advertising (e.g., digital vs. print, broadcast vs. online platforms).
  • Interaction with other incentives: Provisions on whether the credit can be claimed in conjunction with other tax credits or incentives, and any sequencing rules (e.g., refundable vs. nonrefundable).
  • Administrative rules: Requirements for documentation, reporting, and verification by the Vermont Department of Taxes or another designated agency. Possible need for annual reporting on utilization and impact.

Who would be affected

  • Local media entities (e.g., local newspapers, radio stations, TV stations, and digital local outlets) that purchase advertising from advertisers.
  • Advertisers seeking to place local ads would indirectly benefit by increasing the value proposition of advertising with local media.
  • Vermont Department of Taxes and related state agencies responsible for administering tax credits and monitoring compliance.

Procedural and timeline aspects

  • Status: Read first time and referred to the Committee on Ways and Means on February 26, 2025.
  • Next steps likely to involve committee consideration, potential amendments, and, if advanced, floor votes and gubernatorial action.
  • Since the bill concerns a tax credit, it would require legislative approval and alignment with the state’s revenue projections and fiscal impact analyses. The Ways and Means Committee would typically assess the revenue impact, administration, and fiscal feasibility.

Potential impacts and considerations

  • Fiscal impact: The credit would reduce state tax revenue by the amount of credits claimed; the bill would need to include a mechanism to estimate and cap those costs.
  • Economic and community impact: Targeted support for local media could strengthen community information ecosystems, support local journalism jobs, and potentially attract local advertising spend.
  • Administrative burden: Agencies would need processes to verify eligibility, track credits, and publish annual usage data.

Notes: The summary reflects the bill’s stated purpose and typical structures for a local media advertising tax credit. Exact eligibility definitions, credit calculation, caps, and administration details would be found in the full text of H.377.

Compiled from official sources — confirm details with the bill’s official record.

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