Senators John Cornin (R-TX) and Amy Cloboucher (D-MN) today introduced the “SOS Extension Act,” which will extend the deadline for the use of the Small Business Administration Shutted Venue Operator grant created by its bipartisan Save Hour Stage Act. From the end of 2021 to the spring of 2023.
The move was originally inspired by the ১ 1 billion “Save Our Stages” Covid Relief Act, which was delayed by more than six months before it became law in December, and independent venues and theaters have actually begun to receive funding; In June the SBA rebuilt the management of the program and the funds began to go out in earnest. Kornin and Klobuchter are the authors of this law, which received widespread support in Congress and throughout the entertainment industry.
The law will only extend the deadline, and will not call for additional funding.
Sen Save Cornin said, “Struggling recreation areas waited months for SBA to deliver relief after the Save Hour stages were over, and now these small businesses, many of which are still closed, may lose the grants they need to survive the epidemic. . ” “This law will allow these individual music venues, theaters and dance halls to spend these funds wisely rather than forcing them into ‘use it or lose it’ situations.”
“Last year, we refused to sit back and let the music die, which is why we passed the Bilateral Save Our Stage Act,” Sen. Kloboucher said. “As we continue to recover from the epidemic, I am proud to introduce this law to extend the scope of use of these relief funds, they help ensure that they will eventually be able to meet and serve our community for generations to come. “
The Save Our Stages Act was enacted into law on December 2, 2020 as part of the Universal Funds Bill. Many venue owners are struggling to use their funds due to months-long delays from SBA in launching the program and disbursing grants. Towards the end of December, they were forced to spend millions in just three months when their venues were closed due to the COVID ban. If this deadline is not extended, venues may have to return their billions of dollars to SBA.