It's official ­ tax certificate bill introduced

Sen Robert Menendez (D-NJ) and a bipartisan slate of co-sponsors have put a bill before Congress which would restore the late lamented minority tax certificate. The mechanism was killed in 1995 due to alleged abuses, but is still widely seen as one of the best tools for promoting socially-disadvantaged business (SDB) broadcast ownership in the government's arsenal. The Menendez bill would provide for $350M over six years in tax credits that would go to companies selling communications properties to socially-disadvantaged businesses. Co-sponsors include Sens Ken Salazar (D-CO), Gordon Smith (R-OR), Frank Lautenberg (D-NJ), Ted Stevens (R-AK) and Debbie Stabenow (D-MI).