With COVID-19 wreaking havoc on hundreds of thousands of small businesses, modest-sized concert venues across the nation have nosedived within the past six months.
It’s no secret that the state of live music has suffered severely by way of the pandemic. As coronavirus rages on, the House of Representatives has revisited the original Heroes Act, the relief plan developed to assist both businesses and individuals during the pandemic, and made amendments to now include the Save Our Stage Act. Under this revision, the National Independent Venue Association and the National Independent Talent Organization would receive aid to help them make it through the pandemic.
If the act is passed through legislation, $10 billion in relief aid would be allocated to venue operators, producers, promoters, or talent representatives. The act would also allow for the Small Business Administration to authorize grants for these independent pursuits. According to the bill,
“The Small Business Administration may make an initial grant of up to $12 million dollars to an eligible operator, promoter, producer, or talent representative, and a supplemental grant that is equal to 50 percent of the initial grant. Such grants shall be used for specified expenses such as payroll costs, rent, utilities, and personal protective equipment.”
Once this bill hits the floor of the House, it may or may not be advanced to the Senate, which will then decide whether the legislation will ultimately pass. If passed, the bill would be a huge win for small venues that are unable to sustain amid the persisting lack of live shows in both the immediate and longer-term future—venues that would likely not be able to reopen for some time post-pandemic. For more information on the overall Heroes Act, read the summary here.
Featured image: Lindrik/Getty Images/iStockphoto
H/T: Billboard
