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March 8, 2021
 
 
 
 
 
 
Senate Passes American Rescue Plan
Aid from NEA, PPP, SVOG, ERTC, & More

 
 
 
 
On Saturday, March 6th the US Senate passed its amended version of the American Rescue Plan, a $1.9 trillion relief package that contained several provisions that will assist the arts sector in managing the economic strain caused by the pandemic. The US House is expected to vote to approve this version on Tuesday, March 9th and send it to President Biden to be signed into law. The American Rescue Plan includes an extension of federal unemployment programs, more funding and flexibility for the Shuttered Venue Operators Grant (SVOG), an expansion of the Employee Retention Tax Credit (ERTC) through the end of 2021, $135 million in arts relief through the National Endowment for the Arts (NEA), and $350 billion in relief to state, county, and municipal governments that could be used for additional relief for the arts sector. Arts NC is proud to see so much of the relief we have been advocating for provided in this package.
 
 
 
 
Included in the Senate version of the American Rescue Plan:
  • $350 billion in aid to state and local governments with ample funding set aside for county and municipal governments of all sizes, which could be a source of additional arts support in the months ahead.
  • An additional $1.25 billion in funding for SVO Grants and applicants will be allowed to receive a First or Second Draw PPP loan in this year, before March 31st, and then apply for an SVOG when those application opens, subtracting the 2021 PPP loan from the SVOG award.
  • $135 million in arts relief through the NEA, an estimated $900,000 of which will be distributed through the NC Arts Council.
  • Federal unemployment programs will be extended through September 6th including the $300 federal supplement on all pandemic UI benefits.
  • ERTC extended for two quarters, through December 2021, providing an additional tax credit of as much as $7,000 per employee, per quarter.
 
 
READ MORE: Arts Relief in the American Rescue Plan
 
 
 
 
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NEW SVO Grant Resources
Videos, FAQs, Requirements, Checklist

 
 
 
 
The Small Business Administration (SBA) has added several new resources recently for the Shuttered Venue Operator Grant (SVOG) program. With the American relief plan allowing applicants to receive a PPP loan in 2021 and have that forgivable loan subtract from the SVOG award, there may be many organizations looking into the program.
 
 
 
 
 
 
 
SBA Shuttered Venue Operators Grant Website
 
 
 
 
 
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of Traditional Music
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