KY SB242

Establishes the grocery store initiative fund as a revolving account in the State Treasury, administered by the Cabinet for Health and Family Services, funded through state appropriations, gifts, grants, federal funds, and investment returns

Provides grants, loans, and technical assistance to independently owned for-profit, cooperative, nonprofit, and local government-operated grocery stores to expand access to healthy foods in underserved areas

Eligible uses include market feasibility studies, worker salaries and benefits, facility acquisition or rent, establishing new stores, capital improvements, renovations, equipment purchases, and upgrades to existing food retailers

Cabinet may prioritize applicants based on poverty rates, income levels, geographic diversity, local ownership, and current grocery store access in the proposed project area

Requires annual reports to the Governor and Legislative Research Commission beginning October 1, 2027, summarizing all awards, funds received and distributed, project progress, and recommendations