National Independent Venues Association
Congress Introduces Another Bill to Save Independent Music Venues
The ENCORES Act would provide relief in the form of tax credits on ticket refunds. A new bill in the House Representatives aims to keep struggling independent music venues afloat during the ongoing pandemic. Introduced Thursday by Reps. Ron Kind (D-WI) and Mike Kelly (R-PA), the Entertainments New Credit Opportunity for Relief & Economic Sustainability (ENCORES) Act would allow venues to recoup some of the losses they have experienced from issuing ticket refunds for canceled events by providing a tax credit for 50% of the value of those refunded tickets. To qualify under the proposed legislation, venues must be in the business of promoting, producing or managing live concerts, comedy shows, sporting events and live theatrical productions and have 500 or fewer employees. They must ...
