Texas House Bill HB1047

Texas 2017 - 85th Regular

Caption

Relating to the establishment of a community development grocery store and healthy corner store revolving loan fund program.

Impact

The bill significantly impacts state laws regarding the establishment and financing of grocery and healthy corner stores. By creating the revolving loan fund, the state will provide ongoing financial assistance that could aid in improving public health and economic conditions in areas traditionally underserved by grocery retailers. The funding will be available to community development financial institutions (CDFIs) that will oversee the loans to eligible entities. The initiative not only promotes healthy eating but is also expected to generate jobs, enhance property values, and increase overall community well-being.

Summary

House Bill 1047 establishes a community development grocery store and healthy corner store revolving loan fund program in Texas. The bill's primary objective is to address issues related to food deserts—areas characterized by limited access to affordable and nutritious food, particularly in lower-income regions. The legislation aims to revitalize these areas by providing loans and financial support to entities that operate or intend to establish grocery stores or healthy corner stores in such underserved locations. This is expected to facilitate greater access to healthy food options and stimulate local economies by encouraging entrepreneurial activity in food deserts.

Contention

While the intent behind HB 1047 is broadly supported, discussions may arise regarding the management and distribution of the loan funds. Potential concerns include whether the set criteria for loan eligibility for grocery stores adequately reflect the diverse needs of different communities or if they may be too restrictive, thereby limiting the program's ability to effectively address all food deserts. Furthermore, the sustainability of the revolving loan fund could also be a point of contention, particularly regarding the tracking of loans and ensuring compliance among recipients. Stakeholders might advocate for additional oversight to guarantee the program meets its intended goals of service and community development.