AB 1661 Summary: The Healthy Options for Everyone (HOPE) Act of 2014

• Authorizes cities, counties, or city and counties to establish HOPE Incentive Zones in food deserts after public hearing, with zones effective for seven years, to increase availability of fresh fruits, vegetables, and other grown foods.

• Requires local entities to waive all business license fees for qualified businesses operating within HOPE Incentive Zones and encourages discounted annual permits for farmers' markets in these zones.

• Allows qualified businesses operating primarily in HOPE Incentive Zones to carry over net operating losses for 25 taxable years (instead of 20) for tax years beginning January 1, 2015 through December 31, 2021.

• Provides a 20% tax credit on gross sales within HOPE Incentive Zones for qualified businesses under both Personal Income Tax Law and Corporation Tax Law for taxable years beginning January 1, 2015 through December 31, 2021.

• Defines "qualified business" as any trade or business primarily engaged in retail sale of canned food, dry goods, fresh fruits and vegetables, and fresh meats, fish, and poultry, with "primarily" meaning 80% or more of business activity.