State Senate approves Glazer bill to revive newsrooms
SB 1327 gets required two-thirds vote approving $500 million in annual tax credits
Funded by fee on large internet companies
SACRAMENTO – Senator Steve Glazer’s bill to help strengthen local newsrooms with $500 million in annual tax credits was approved Thursday on a required two-thirds vote. It now moves to the Assembly.
The bill, SB 1327, was approved on a bipartisan 27-7 vote. A two-thirds vote was required because the bill assesses a Data Extraction Mitigation Fee on large Internet companies. It would distribute the money through tax credits to California news organizations.
“The passage today of my bill, SB 1327, is a step toward helping to revive news organizations across California,” said Glazer, D-7-Contra Costa. “Independent journalism is the lifeblood of our democracy by keeping our citizens informed on the workings of their government.
“This measure will mitigate the damage caused by platforms who use our personal data and their subsequent advertising profits to gut our mainstream news channels. I will continue to work with all stakeholders in the weeks ahead to chart a path forward that restores and expands independent news organizations, so critical to our democracy.”
Assemblywoman Buffy Wicks, D-14-Oakland, who represents portions of West Contra Costa County and has her own legislation, AB 886, to help news organizations, applauded the bill’s passage.
“I am encouraged to see SB 1327 move forward, and grateful to my Senate colleagues for recognizing the importance of this issue,” said Wicks. “The advancement of Sen. Glazer’s bill will allow us to continue working collaboratively toward a solution that protects and grows newsrooms across California.”
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