Restaurant Revitalization Fund Replenishment Act of 2021 passes U.S. House of Representatives

By | April 11, 2022

Yesterday by a vote of 223-203, the House of Representatives passed the Restaurant Revitalization Fund Replenishment Act of 2021, which provides assistance for businesses hardest hit by the COVID-19 pandemic, including eligible parks, attractions, and family entertainment centers. The maximum award amount is $1,000,000. 

Businesses are not eligible for assistance if they received money from the Restaurant Relief Fund, the Shuttered Venues Program, have more than 200 employees, are a publicly traded company or owned by private equity firm, or suffered no less than 40% pandemic related revenue loss in 2020 and 2021 when compared with 2019 revenue.

The priority periods for SBA awards outlined in the legislation are as follows; 1) the first priority period involves eligible entities that have experienced at least 80% pandemic related revenue loss, 2) the second priority period involves eligible entities that have experienced at least 60% percent pandemic related revenue loss, and 3) the third priority is for small businesses meeting the 40% revenue loss threshold. 

The eligible uses of funds for awardees, include: payroll costs, payments to independent contractors, scheduled payments of interest or principal on mortgage obligations, payments on any covered rent obligations, covered utility payments, maintenance expenses, covered workers protection expenditures, supplies, expenses with the scope of normal business practices before the covered period, covered supplier costs, covered operational expenses, paid sick leave, capital expenditures related to implementing social distancing measures, and any other essential expenses deemed by the SBA Administrator.

As this bill moves over to the Senate, we will begin working with the appropriate officials to encourage their support of this legislation and advocate that the definition of “employee” be limited only to full time employees – particularly for operators in seasonal markets.

At the appropriate time, we will also call on all Support Hometown Attractions advocates to reengage. Thank you for your continued engagement and support!