1. Short title This Act may be cited as the Supporting Theater and the Arts to Galvanize the Economy Act or the STAGE Act . 2. Professional nonprofit theater grants (a) In general Title II of the Public Works and Economic Development Act of 1965 is amended by inserting after section 207 ( 42 U.S.C. 3147 ) the following: 208. Professional nonprofit theater grants (a) Establishment The Secretary shall establish a grant program, to be known as the Professional Nonprofit Theater Grant Program (referred to in this section as the program ), to provide to eligible entities funding for the purposes of— (1) supporting employment and economic recovery; (2) stimulating economic development; (3) strengthening community-based arts organizations; and (4) improving theater facilities. (b) Eligible entities (1) In general An entity eligible to receive a grant under the program is a nonprofit organization described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of that Code— (A) that produces or presents live theater and other performing arts; (B) that compensates all professional performers and related or supporting professional personnel at a rate that is not less than the prevailing minimum compensation for persons employed in similar activities as described in section 5(m) of the National Foundation on the Arts and the Humanities Act of 1965 ( 20 U.S.C. 954(m) ); (C) that, prior to the date of application, has not less than a 3-year history of programming; (D) (i) that demonstrates a loss in gross or net revenue, adjusted for inflation, as defined by the Secretary; or (ii) that primarily serves historically underserved communities, including populations whose opportunities to experience the arts have been limited relative to geography, economics, race or ethnicity, or disability; (E) that has no net earnings benefitting a private stockholder or individual; (F) the primary purpose of which is the nonprofit arts industry