At least I've sure never heard of it.
In merry old England they have something known as the Public Lending Right, which provides published authors with " a legal right to payment from government each time their books are borrowed from public libraries." We're talking six pence each time one of their books is loaned up to a cap of 6,600 pounds. (I'm guessing that's a year and not in the lifetime of the book, but I didn't actually find that spelled out.) Nobody is going to get rich on that, but talk about a bit of a safety net.
Of course, times being what they are, the PLR's budget is being cut.
I found this by way of ArtsJournal, another place I haven't visited in a long time.