FUJI Sports understands that gyms across the country have been devestated by the COVID-19 pandemic. With other industries getting relief, gyms and martial arts centers are being left behind. Join the coalition to help support gyms and martial arts centers!
A little bit about the GYMS Act:
On February 5, 2021, U.S. Reps. Mike Quigley (D-IL) and Brian Fitzpatrick (R-PA) filed the Gym Mitigation and Survival (GYMS) Act (H.R. 890) in response to the COVID-19 pandemic disproportionately impacting health and fitness facilities around the country. Most of Congress's previous economic relief packages have either left out or not really helped the fitness industry.
If passed, the GYMS Act will create a $30 billion fund to provide grants to affected businesses in the health and fitness industry. The fund would cap initial grant amounts at 45% of the facility’s 2019 revenue—or $20 million, whichever is less. Health and fitness businesses considered severely impacted—with revenues of only 33% or less in the most recent quarter as compared to 2019—would be eligible for a supplemental grant, of up to 25% of their initial grant. The most an eligible business and its affiliates could receive is $25 million.
A few expenses the grant would cover include:
- payroll costs,
- rent or mortgage payments, including interest,
- interest on debt accrued before February 15, 2020,
- payments required for insurance on any insurance policy,
- costs required under any State, local, or Federal law or guideline related to social distancing,
- and more.
Learn more about the GYMS Act and stay up-to-date on how the efforts to pass the relief bill are going by visiting the IHRSA dashboard.