changes needed to cares act
Contact the U.S. Congress Today to Urge Changes to the CARES Act!
As Congress resumes its work this week and begins considering the next phase of COVID-19-related stimulus funding, IAAPA and its members have an opportunity to advocate for even more relief efforts for our industry so we need you to ACT NOW to ensure the needs of the attractions are heard.
Even if you have previously contacted your elected official, your action TODAY is critical, please contact your elected officials and urge them to include the following items in the next phase of COVID-19 related stimulus funding:
- Increase funding for the Paycheck Protection Program for small businesses.
- Small Business Administration Loans
- Include businesses with the North American Industry Classification System code beginning with 71 (the code for amusement parks and attractions) in the Paycheck Protection Program waiver program for amusement parks and attractions that have less than 500 employees at a single location, but more than 500 company-wide.
- Change the CARES Act definition of “small business”, which is “a business with 500 or fewer employees” to include amusement parks and attractions that may have over 500 employees at a given time, but a substantial percentage of their employees are part-time, seasonal or temporary employees. The current definition does not accurately reflect the size for these businesses. Counting every single employee distorts their actual size. The definition should be based on full-time equivalents to accurately reflect the size of attraction industry businesses.
- Increase loan forgiveness flexibility in the Paycheck Protection Program for seasonal businesses both in terms of how funds can be used and the timeline for usage.
- Emergency Stabilization Fund
- Amusement parks and attractions that have been severely impacted need to be included in the Emergency Stabilization Fund. This program needs to be implemented quickly to help businesses in dire need now.
- Expedient creation of a fund for mid-sized businesses for the attractions industry. For purposes of mid-sized business loan eligibility, the definition of employee should include permanent employees, not seasonal employees. Alternatively, the definition of employee should be based on full-time equivalent employees.
- Requirements for employee retention should focus on permanent year-around employees to accommodate the attractions industry, and other industries, that have a substantial number of part-time, temporary and seasonal workers who are critical to the industry.
- Should state health guidelines prevent amusement parks and attractions from fully opening, additional grants and/or loans with deferral of repayment terms should be made available to enable facilities to open, maintain employees and sustain businesses until facilities can open at full capacity.
- Provide COVID-19 liability protection for businesses that have followed best practices to protect guests and workers against COVID-related illness.