Minority Telecommunications Development Act of 1985

Minority Telecommunications Development Act of 1985 - Amends the Communications Act of 1934 to declare a purpose of such Act to be to provide for greater diversity of ownership and control of domestic and international telecommunications by requiring persons regulated by such Act to implement equal employment opportunity programs.

Directs the Federal Communications Commission to: (1) establish criteria that ensures the eligibility of minorities for initial broadcast station licenses and construction permits; and (2) incorporate such criteria in any solicitation of applications for such a license or permit. Authorizes the Commission to declare that groups other than minorities are eligible for such license or permit if their eligibility would further the purpose declared by this Act. Sets forth circumstances under which the Commission may consider an applicant who does not satisfy such eligibility criteria.

Directs the Commission to certify an assignment of a license or construction permit or a transfer of a corporate licensee or permittee to a minority assignee or transferee as necessary to effectuate a policy change (thus qualifying such assignment or transfer as an involuntary conversion to similar property and, therefore, a nonrecognition of gain under the Internal Revenue Code) if the Commission finds such action consistent with the purpose declared under this Act.

Requires the Commission to permit a station licensee whose license has been designated for a revocation or renewal hearing to transfer or assign such license to a qualified minority applicant at a certain reduced market value prior to a final Commission order revoking, or denying renewal of, the license.

Authorizes the Commission to waive its rules relating to the multiple ownership of telecommunications facilities for small business investment companies if the Commission finds that such waiver would enhance investment opportunities for minorities in telecommunications.

Requires radio and television broadcasters, networks, common carriers, satellite operators, and the headquarters of such entities to establish, implement, and maintain an equal employment opportunity policy and program. Sets forth program guidelines and requirements, including requirements concerning the recruitment, training, and promotion of minority and female employees. Requires such entities to file with the Commission such program and an annual statistical report identifying by race and sex the number of employees in various job categories. Declares that an entity shall be deemed to be in compliance with equal employment opportunity program requirements when its work force has attained 80 percent of workforce parity for minorities and women in both total full-time employment and in the positions of managers, professionals, technicians, and sales persons.

Requires applicants for construction permits, assignment of a license or construction permit, transfer of control, or license renewal to file an equal opportunity program with the Commission. Directs the Commission to designate an application for hearing if: (1) the Commission is unable to find that an applicant has maintained an effective program; and (2) the applicant's work force represents less than 50 percent of work force parity for minorities and women. Prohibits the Commission from considering in such hearing any improvements made in employment parity after designation of an application for hearing.

Establishes the Advisory Committee on Minority Telecommunications Development to advise the Commission on policies which would further full participation by minorities in communications. Directs the Committee to report to the Commission within one year and to continue advising the Commission until the Congress determines that minorities have attained full participation in the employment and ownership of telecommunications facilities.

Makes specified funds available to the Commission to reimburse civic and community organizations (particularly, organizations representing minorities) and small businesses for their expenses of participating in rule making proceedings.

Earmarks a specified portion of the funds appropriated for the planning and construction of public telecommunications facilities to be available for the development of facilities owned and operated by, and available to, minorities.

Amends the Internal Revenue Code to eliminate the limitation on the value of used property that may qualify for the investment tax credit with respect to property acquired by a minority company in the purchase of any operating telecommunications facility.

Requires the Commission to include in its annual report to the Congress information on the participation of minorities as employees and owners of telecommunications facilities.

Requires the Commission, before promulgating any rule, to evaluate, and allow the public to comment on, the impact of the rule on: (1) minority ownership or control of telecommunications facilities; and (2) the employment of minorities and women.