Newspaper Revitalization Act 2009.<http://cardin.senate.gov/pdfs/newspaperbill.pdf> March 24, 2009.
If it pases, this proposed legislation by Senator Cardin will allow certain newspapers with 'educational' value to restructure as non-profits and benefit from tax-exemption under IRS code 501(a).
This proposal is one of many ideas that are currently on the table to 'rescue' the faltering newspaper industry. According to many sources, this legislation will not suffice to solve the problems of journalism (for a full critique see "Saving the News"), but it may provide a new avenue for some newspapers. Furthermore, the bill may suffice to protect enough investigative journalism to protect democracy, while other solutions turn to helping media turn a profit and meet the needs of the public.