William Helms: “last week, I introduced the Small Webcaster Settlement Act of 2002, along with the chairman of the Senate Judiciary…”

“last week, I introduced the Small Webcaster Settlement Act of 2002, along with the chairman of the Senate Judiciary Committee, Senator Leahy. Having now been passed by both Houses of Congress, this bill is expected soon to be signed by the President. The Helms-Leahy bill is the result of a sustained and arduous negotiating process involving numerous stakeholders. Its enactment enables small Internet radio services and the recording industry, if they both choose, to settle their longstanding disputes regarding the amount of royalties webcasters must pay in order to perform sound recordings over the Internet. This consensus legislation will bring much-needed stability to the emerging webcasting industry by permitting small commercial webcasters to establish with final certainty their financial obligations, thereby enabling entrepreneurs to secure additional venture capital and to avoid bankruptcy in many cases. Moreover, as enacted, this bill will ensure that privately negotiated settlements will not be enacted into positive law, thereby negatively impacting, either directly or indirectly, any industry or entity that does not or cannot yet settle their liabilities for these royalties.”