WASHINGTON D.C. (CelebrityAccess) — On Monday, the House of Representatives introduced an updated version of the Heroes Act that now includes the Save Our Stages Act, aimed at helping America’s hard-hit independent live music sector.
The legislation, which has bipartisan support, includes targeted relief for small businesses and non-profits via a revised Paycheck Protection Program, which authorizes a second loan of up to $2 million dollars for small businesses impacted by the pandemic, including the restaurant industry and independent venue operators.
The Heroes Act also authorizes $10 Billion for eligible live venue operators, producers, promoters, or talent representatives who have been impacted by COVID-19, with initial grants of up to $12 million dollars as well as a supplemental grant that is equal to 50% of the initial grant.
The grants can be used for expenses such as payroll costs, rent, utilities, and personal protective equipment.
In a statement on the updated legislation, Audrey Fix Schaefer, communications director for National Independent Venue Association said:
“We’re incredibly grateful that this piece of legislation encompasses the provisions of the bipartisan Save Our Stages Act, which was sponsored in the House by Representatives Peter Welch (D-VT) and Roger Williams (R-TX) and in the Senate by Senators John Cornyn (R-TX) and Amy Klobuchar (D-MN). We also thank Speaker Pelosi (D-CA) and Representative Velásquez (D-NY) for their leadership in recognizing the unique and perilous situation independent venues face since we have been shuttered for more than six months with no revenue, enormous overhead, and no foreseeable timeframe until we can fully reopen across the country.
“We hope our elected officials come together on COVID-19 assistance in the coming days, not weeks or even months. Our small, independent businesses, which normally contribute billions of dollars to local economies, are on the precipice of mass collapse if this critical funding doesn’t come through.
“We’re cautiously optimistic our elected officials understand that if they assist us now, we can be part of the economic renewal of small towns and big cities, since for every $1 spent on a concert ticket at a small venue, $12 of economic activity is generated for area businesses like restaurants, retail shops, and hotels. This investment will pay off for communities and workers in all 50 states and Washington, D.C.”