The Health & Fitness Recovery Act of 2020 (H.R. 8485), introduced in Congress on October 1, 2020, reflects efforts by lawmakers and lobbyists to provide financial relief to health and fitness businesses hurt by the pandemic. As previously reported, national fitness chains have filed for bankruptcy, with many facility closures and billions of dollars in lost revenue.
The proposed legislation seeks to aid affected businesses by creating a $30 billion fund for grants. Each grant would max out at an actual business loss of 10% of the previous year’s revenue or $10 million, whichever is less. To learn more about what types of health and fitness businesses could potentially receive relief, visit congress.gov/bill/116th-congress/house-bill/8485/text.
Subscribe to our Newsletter
Stay up tp date with our latest news and products.