A Tax Break For Performing Arts Radio?

A proposal before the US Congress would give tax incentives to a commercial radio station that gave over its license to performing arts groups. “The Cultural Radio Tax Credit Act of 2005 (or HR 2904) was introduced June 15 and would provide a tax credit to the owner of a radio broadcasting station that “donates the license and other assets of said station to a nonprofit corporation for purposes of supporting nonprofit fine arts and performing arts organizations.”