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US $900B stimulus bill makes some DMOs eligible for PPP
By
31 December 2020

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David|31 December 2020

The $900B stimulus bill passed last week by the US Congress makes some destination marketing organizations (DMOs) eligible to receive Paycheck Protection Program (PPP) funding for the first time.

Eligibility requirements are:

  • Must be a registered 501(c) organization OR a quasigovernmental entity OR a political subdivision of a state or local government
  • Not more than 300 employees
  • Lobbying activities and revenues not to exceed 15% of total

The new bill also allows other small businesses - including hotels and restaurants - to apply for a second PPP loan.

Other relief efforts under the new bill include:

  • Airlines, which earlier received $25B under the CARES Act, will get an additional $15B.
  • Airports will get $2B.
  • Event venues, movie theaters and cultural institutions that can demonstrate a 25% reduction in revenue will get $15B.

Individuals who make $75K/year or less will get $600, and couples making $150K/year combined will get $1200 plus $600 per child.

And unemployment benefits of $300/week will continue through 14 March 2021.


David Boggs President/CEO ACRO Global|Publisher Tourism Marketer
David H. Boggs
President/CEO
ACRO Global
Publisher
TourismMarketer

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