As you may have heard Congress recently passed a bill which offers aid to some theaters and cultural venues. It is called the “Coronavirus Response and Relief Supplemental Appropriations Act, 2021”. In this Bill, under section 324 there is the information and requirements needed for theatres and venues to apply for the aid and grants.
Specifically it states:
Section 324: Grants for Shuttered Venue Operators.• Authorizes $15 billion for the SBA to make grants to eligible live venue operators or promoters,theatrical producers, live performing arts organization operators, museum operators, motion picturetheatre operators, or talent representatives who demonstrate a 25 percent reduction in revenues.• There is a set-aside of $2 billion for eligible entities that employ not more than 50 full-time employees,and any amounts from this set-aside remaining after sixty days from the date of implementation of thisprogram shall become available to all eligible applicants under this section.• The SBA may make an initial grant of up to $10 million dollars to an eligible person or entity and asupplemental grant that is equal to 50 percent of the initial grant.• In the initial 14-day period of implementation of the program, grants shall only be awarded to eligibleentities that have faced 90 percent or greater revenue loss. In the 14-day period following the initial 14-day period, grants shall only be awarded to eligible entities that have faced 70 percent or greater revenueloss. After these two periods, grants shall be awarded to all other eligible entities.• Such grants shall be used for specified expenses such as payroll costs, rent, utilities, and personalprotective equipment.• Requires the Administrator to conduct increased oversight of eligible persons and entities receivingthese grants.• Requires the SBA to submit a report to the Senate and House Small Business Committees 45 days afterenactment detailing their oversight and audit plan for shuttered venue grants and to provide monthlyupdates on the oversight and audit activities conducted by the Administrator.
Click HERE to view the bill and to see if your organization is eligible to apply.