Bill Would Provide Targeted Relief to Fitness Industry

Jason Scott Headshot

Last week, U.S. representatives Mike Quigley (D-Ill.) and Brian Fitzpatrick (R-Pa.) introduced the Gym Mitigation and Survival (GYMS) Act with the intent of helping the fitness industry weather the storm brought on by the COVID-19 pandemic.

The International Health, Racquet and Sportsclub Association (IHRSA) supported the legislation, which would create a fund to provide grants to businesses within the industry who have been adversely affected by the pandemic. The $30 billion fund would disperse grants to help gyms and fitness centers cover the costs of payroll, rent or mortgage payments, utilities, interest on debt, taxes, insurance payments, costs required under social distancing guidance and more. 

Grant amounts would be capped — meaning that affected gyms could only claim up to 45 percent of total revenue in 2019, or up to $20 million, whichever figure is less. Businesses considered “severely impacted,” or those whose revenues were 33 percent or less in the most recent quarter as compared to 2019, could be eligible for a supplemental grant. The most eligible businesses could claim under the legislation would be $25 million.

Log in to view the full article
Buyer's Guide
Information on more than 3,000 companies, sorted by category. Listings are updated daily.
Learn More
Buyer's Guide
AB Show 2023 in Baltimore
AB Show is a solution-focused event for athletics, fitness, recreation and military professionals.
Nov 1-4, 2023
Learn More
AB Show 2023