7 USC 6953 - Healthy food financing initiative

U.S Code last checked for updates: Apr 30, 2024

§ 6953.

Healthy food financing initiative

(a)

Purpose

(b)

Definitions

In this section:

(1)

Community development financial institution

(2)

Initiative

(3)

National fund manager

The term “national fund manager” means a community development financial institution that is—

(A)

in existence on the date of enactment of this section; and

(B)

certified by the Community Development Financial Institution Fund of the Department of Treasury to manage the Initiative for purposes of—

(i)

raising private capital;

(ii)

providing financial and technical assistance to partnerships; and

(iii)

funding eligible projects to attract fresh, healthy food retailers and enterprises to underserved areas, in accordance with this section.

(4)

Partnership

The term “partnership” means a regional, State, or local public-private partnership that—

(A)

is organized to improve access to fresh, healthy foods;

(B)

provides financial and technical assistance to eligible projects; and

(C)

meets such other criteria as the Secretary may establish.

(5)

Perishable food

(6)

Quality job

(7)

Staple food

(A)

In general

(B)

Inclusions

The term “staple food” includes—

(i)

bread or cereal;

(ii)

flour;

(iii)

fruits;

(iv)

vegetables;

(v)

meat; and

(vi)

dairy products.

(c)

Initiative

(1)

Establishment

(2)

Implementation

(A)

In general

(i)

In general

(ii)

Use of funds

Funds provided to an entity pursuant to clause (i) shall be used—

(I)

to create revolving loan pools of capital or other products to provide loans to finance eligible projects or partnerships;

(II)

to provide grants for eligible projects or partnerships;

(III)

to provide technical assistance to funded projects and entities seeking Initiative funding; and

(IV)

to cover administrative expenses of the national fund manager in an amount not to exceed 10 percent of the Federal funds provided.

(B)

Eligible projects

Subject to the approval of the Secretary, the national fund manager shall establish eligibility criteria for projects under the Initiative, which shall include the existence or planned execution of agreements—

(i)

to expand or preserve the availability of staple foods in underserved areas with moderate- and low-income populations by maintaining or increasing the number of retail outlets that offer an assortment of perishable food and staple food items, as determined by the Secretary, in those areas; and

(ii)

as applicable, to accept benefits under the supplemental nutrition assistance program established under the Food and Nutrition Act of 2008 (7 U.S.C. 2011 et seq.).

(C)

Priorities

In carrying out the Initiative, priority shall be given to projects that—

(i)

are located in severely distressed low-income communities, as defined by the Community Development Financial Institutions Fund of the Department of Treasury; and

(ii)

include 1 or more of the following characteristics:

(I)

The project will create or retain quality jobs for low-income residents in the community.

(II)

The project supports regional food systems and locally grown foods, to the maximum extent practicable.

(III)

In areas served by public transit, the project is accessible by public transit.

(IV)

The project involves women- or minority-owned businesses.

(V)

The project receives funding from other sources, including other Federal agencies.

(VI)

The project otherwise advances the purpose of this section, as determined by the Secretary.

(d)

Authorization of appropriations

(Pub. L. 103–354, title II, § 243, as added Pub. L. 113–79, title IV, § 4206, Feb. 7, 2014, 128 Stat. 824; amended Pub. L. 115–334, title IV, § 4204, Dec. 20, 2018, 132 Stat. 4656.)

cite as: 7 USC 6953