Vote Smart's Synopsis:

Vote to pass a bill that appropriates an additional $60 billion in Fiscal Year 2021 for the Restaurant Revitalization Fund, which was established to support restaurants and other food and beverage purveyors in response to COVID-19.

Highlights:

• Appropriates $42 billion in fiscal year 2021 for the Restaurant Revitalization Fund and prioritizes applicants who have not received a grant (Sec. 2).

• Requires the Small Business Administration (SBA) accomplish the following, including, but not limited to (Sec. 2):

• Provide an explanation to applicants with reasons for a denied request, establish a reconsideration process for denied applications; and

• Institute an audit and oversight for grant recipients.

• Establishes the Hard Hit Industries Award Program for small businesses that suffered pandemic-related revenue loss of 40 percent or more and caps aggregate grant amounts at $1 million (Sec. 3).

• Specifies that the aforementioned funds may be used for mortgage, rent, and utility payments and payroll costs (Sec. 3).

• Requires the SBA to prioritize entities that have experienced significant pandemic-related revenue loss, with first priority going to entities that have experienced a loss of at least 80 percent, and second priority going to entities that experienced loss of at least 60 percent (Sec. 3).

• Extends the time frame during which Shuttered Venue Operators Grant recipients may use grant funds to cover their expenses to March 11, 2023 (Sec. 5).

Full Bill Text

Full Bill Text