HB283 Summary

• Creates the Healthy Food Financing Act to establish a statewide program providing loans and grants to grocery stores operating in low and moderate income underserved communities.

• Establishes the Healthy Food Financing Fund comprised of federal, state, and private grants or loans, with at least 25 percent of monies expended as grants or forgivable loans.

• Requires the Department of Agriculture and Industries to administer the program in cooperation with public and private partners, with authority to contract with nonprofit organizations or community development financial institutions.

• Eligible projects include construction of new grocery stores and renovations or expansions that improve availability of fresh produce and perishable foods, with applicants required to allocate at least 30 percent of food retail space to perishable foods for five years.

• Limits administrative costs to no more than 10 percent of fund monies and requires annual legislative reporting on funded projects, geographic distribution, outcomes, and job creation impacts.