Illinois passes $25 million in tax credits to boost local journalism

The Illinois legislature has approved measures that provide $25 million in tax credits over the next five years for local news organizations to hire and retain journalists, becoming the second large state in two months to try to bolster the ailing local news industry with tax incentives.

In the wee hours of Wednesday morning, the Illinois House gave final passage to two other components of a larger package designed to address the local news crisis. One provision deems that a local news organization can’t be sold to an out-of-state company without 120 days’ advance notice. And a separate measure creates a scholarship program for students who choose to work at an Illinois local news organization for at least two years after graduation.

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