US SB255 | 2021-2022 | 117th Congress

Status

Spectrum: Moderate Partisan Bill (Democrat 26-5-1)
Status: Introduced on February 4 2021 - 25% progression
Action: 2021-02-04 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Temporarily establishes and provides funding for the Restaurant Revitalization Fund, from which the Department of the Treasury shall make grants to eligible food and beverage purveyors to cover specified costs such as payroll, operational expenses, and paid sick leave. For the grant program's initial period, Treasury must (1) prioritize awarding grants to marginalized and underrepresented communities, and (2) only award grants to eligible food and beverage purveyors with annual revenues of less than $1.5 million in 2019. For tax purposes, grant amounts are excluded from the recipient's gross income. An entity that received a loan under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) may not apply for or use a restaurant revitalization grant for the same expenses for which the entity received the paycheck protection loan. Further, a grant applicant may request an additional amount to cover the cost of providing 10 days of paid sick leave to its employees. Treasury must report a list of grant recipients with the amount each recipient received, as well as demographics and other specified information.

Tracking Information

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Title

RESTAURANTS Act of 2021 Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive Act of 2021

Sponsors


History

DateChamberAction
2021-02-04SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB793 (Same As) 2021-02-04 - Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Subjects


US Congress State Sources


Bill Comments

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