Madonna may be a pop legend, but she hasn't forgotten where she's come from.

She's teaming up with loyalty program Bilt, and together they are covering one month of studio rent for all musicians who are currently leasing space at The Music Building in Manhattan.

Madonna herself used to play in that same rehearsal facility ... and it's where she started shaping her music career back in the 70s.

In fact, Madonna told Bilt she wound up at The Music Building after a crazy accident ... when she started an electrical fire in the garment district building she was illegally living in.

She said ... "I was sleeping on the floor in a sleeping bag so I surrounded myself with some space heaters and I started an electrical fire. But I was sleeping, so I woke up and was surrounded by flames."

The leg-up on rent at The Music Building will be huge for those up-and-coming artists ... and Bilt members will also have access to exclusive Confessions II album release parties on July 3 in NYC, L.A. and Chicago.