AUSTIN, Texas - Save our Stages Act, an act that would provide Small Bussiness Administration grants for independent live music venues affected by the pandemic was introduced by Texas Republican U.S. Senator John Cornyn and Minnesota Democratic U.S. Senator Amy Klobuchar.
The grants would provide six months of financial support to the venues that would "keep venues afloat, pay employees, and preserve a critical economic sector for communities across America," a press release from the U.S. Senate stated.
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“Texas is home to a number of historic and world-class small entertainment venues, many of which remain shuttered after being the first businesses to close,” said Sen. Cornyn. “The culture around Texas dance halls and live music has shaped generations, and this legislation would give them the resources to reopen their doors and continue educating and inspiring Texans beyond the coronavirus pandemic.”
Additionally, the Save our Stages Act would:
- Narrowly define independent live venue operators, promoters, and talent representatives to prevent large, international corporations from receiving federal grant funding
- Direct the SBA to make grants to eligible venues equal to the lesser of either 45% of operating costs from the calendar year of 2019, or $12 million
- Allow the SBA to issue supplemental grants in the future if funding remains available and applicants can demonstrate the need
- Permit recipients to use grants for costs incurred during the COVID pandemic
- Require recipients to return remaining funding after one year from the date of disbursement
- Permit recipients to use grants for rent, utilities, mortgage obligations, PPE procurement, payments to contractors, regular maintenance, administrative costs, taxes, operating leases, and capital expenditures related to meeting state, local, or federal social distancing guidelines
- Authorize the appropriation of $10 billion for the grant program
The press release stated that 90% of venue owners, promoters, and bookers reporting they are at risk of closing without additional financial assistance and an estimated $9 billion in losses should ticket sales not resume until 2021.
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“Minnesota’s concert halls, theatres, and places of entertainment, like First Avenue in Minneapolis, where Prince famously performed, have inspired generations with the best of local music, art, and education,” Sen. Klobuchar said. “This legislation would help ensure that small entertainment venues can continue to operate, and serve our communities for generations to come.”
The Save Our Stages Act is endorsed by the National Independent Venue Association (NIVA) and the National Independent Talent Organization (NITO).
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