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Restaurant Revitalization Fund: Support for Food Service Businesses

This act establishes a $120 billion fund to help restaurants, bars, and similar businesses recover from pandemic-related challenges. These businesses can apply for grants to cover revenue losses and support ongoing operations and job retention. The goal is to bolster local enterprises and safeguard employment in the hospitality sector.
Key points
Creation of a $120 billion Restaurant Revitalization Fund for grants to food service businesses.
Grants aim to cover the difference between 2019 and 2020 revenues, helping businesses maintain payroll and cover operating costs.
Priority for grants given to small businesses (under $1.5 million in 2019 revenue) and those owned by women, veterans, and minorities.
Funds can be used for payroll, rent, utilities, mortgage payments, maintenance, supplies, and other operational expenses.
Grants are tax-exempt, and businesses do not lose other tax benefits due to receiving them.
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Additional Information
RESTAURANTS Act of 2021
Print number: S 255
Sponsor: Sen. Wicker, Roger F. [R-MS]
Process start date: 2021-02-04