[co-author: Laura Peterson]
Originally published on December 30, 2020 and updated as of April 7, 2021.
The Consolidated Appropriations Act, 2021 (the “CAA”), which provides $900 billion in new COVID-19 relief funding, was signed into law on December 27, 2020. Section 324 of Title III of the CAA, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the “Economic Aid Act”), as amended by Title V, Section 5005 of the American Rescue Plan Act of 2021 (the “American Rescue Plan Act”) signed into law on March 11, 2021, introduces a new $16.25 billion grant program through which the U.S. Small Business Administration (the “SBA”) will provide aid to struggling live venue operators and certain related businesses. This program offers a critical lifeline from the Federal government for the nation’s performing arts venues, movie theatres and museums. Grants made to these “shuttered venue operators” under this program are referred to by the SBA and in this publication as “SVO Grants”.
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