Save Our Stages Act Passes in Congress as Part of the $900 Stimulus Bill

After much delay, Congress passed a $900 billion stimulus bill that includes the Save Our Stages Act, initially introduced in July by US Senators Amy Klobuchar (D, MN) and John Cornyn (R, TX ) and actively promoted by Senator Chuck Schumer (D, NY). Schumer tweeted, “We secured the #SaveOurStages Act for indie music venues, Broadway, comedy clubs, indie movie theaters, and more. These are people’s jobs and livelihoods, and they need this help now. I won’t stop fighting for them.”

Also lobbying for Save Our Stages was the Broadway League, which worked to have a wider swath of the industry included, such as non-profit theaters. League president, Charlotte St. Martin, said, “We are grateful for this bipartisan agreement which will provide immediate relief across our industry and a lifeline to the future.”

The Save Our Stages provision is aimed at small businesses in the entertainment industry and allots $15 billion in grants for Save Our Stages—which has been expanded in bipartisan negotiations to include museums and independent movie theaters. Each recipient can receive a grant of up to $10 million, calculated based on 45% of gross earned revenue in 2019 or six months of gross revenue that year. Recipients may also receive a supplemental grant equal to 50% of the first grant amount.

The initial grant can be used to cover costs incurred from March 1, 2020 through Dec. 31, 2021; the supplemental grant may be used for costs incurred from March 1, 2020 through June 30, 2022.

Applicants who have lost more than 90% of their income will be the first group eligible to apply, beginning in two weeks after the bill has passed.

House Majority Leader Nancy Pelosi wrote as part of a statement on the agreement: “Democrats secured critical funding and policy changes to help small businesses, including minority-owned businesses, and nonprofits recover from the pandemic. The agreement includes over $284 billion for first and second forgivable PPP loans, expanded PPP eligibility for nonprofits and local newspapers, TV and radio broadcasters, key modifications to PPP to serve the smallest businesses and struggling non-profits and better assist independent restaurants, and includes $15 billion in dedicated funding for live venues, independent movie theaters, and cultural institutions. The agreement also includes $20 billion for targeted EIDL Grants which are critical to many smaller businesses on Main Street.”