Amends TCA Title 4 and Title 67.

This bill establishes the healthy food financing fund, to consist of financial assistance for the construction or expansion of grocery stores to expand access to fresh produce and other nutritious foods in underserved communities. For purposes of this bill, an "underserved community" is a census tract determined to be an area with low supermarket access by either the U.S. department of agriculture or through a methodology adopted for use by another governmental or philanthropic healthy food initiative.<br /> <br /> This bill imposes a five-cent tax on each airtight plastic container sold in this state, which, at the time of sale, contains a gallon or less of a soft drink, soda water, carbonated natural or mineral water, or other nonalcoholic carbonated drink. The tax imposed by this bill will be in addition to the four percent sales tax on retail sales of food. The proceeds of the tax collected pursuant to this bill will be deposited in the healthy food financing fund.<br /> <br /> This bill requires that monies in the healthy food financing fund be used, to the extent practicable, to leverage other forms of financing. No less than 25 percent of the monies in the fund must be expended in the form of grants or forgivable loans.<br /> <br /> This bill requires the department of economic and community development, in cooperation with public and private sector partners, to establish a financing program to provide financing to retailers to construct, rehabilitate, or expand grocery stores in underserved communities in low- and moderate-income areas. This bill authorizes the department to contract with one or more qualified nonprofit organizations or community development financial institutions to administer the financing program through a public-private partnership. No more than 10 percent of the monies in the fund may be reserved for administrative and operational costs to manage the program by the department, unless those costs are provided for from other funding or in-kind resources. The full text of this bill specifies various responsibilities that the department will have with regard to the financing program, such as the establishment of program guidelines, promotion of the program, underwriting and dispersing grants and loans, monitoring compliance and impact, promulgating rules for monitoring and accountability, and making an annual report to the general assembly.<br /> <br /> An applicant for financing under this bill may be a for-profit or non-profit entity. The full text of this bill specifies criteria that an applicant for financing must meet or agree to meet, evaluation criteria that the department must consider when deciding whether to finance a project, and uses for which financing that is awarded under this bill may be used.<br />