This bill establishes a new tax credit and grant program to encourage investment in healthy food access in underserved communities known as "food deserts." The legislation creates two main incentives: a 15 percent tax credit for building new grocery stores and a 10 percent credit for renovating existing ones in food deserts, plus grants covering 15 percent of construction costs for permanent food banks and 10 percent of annual operating costs for temporary food access providers like mobile markets and farmers markets. To qualify, entities must be certified by the Department of the Treasury in coordination with the Department of Agriculture and must meet eligibility criteria similar to those used in the existing Healthy Food Financing Initiative. The bill includes safeguards requiring recipients to maintain their commitment to serving food deserts for at least five years (or ten years for temporary access merchants), with recapture provisions if they fail to do so, and mandates that allocations be distributed proportionally to ensure rural areas receive adequate funding. The legislation also requires annual updates to the USDA's Food Access Research Atlas to track new food retailers entering the market.
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