To amend the Internal Revenue Code of 1986 to provide tax incentives for the establishment and operation of small food retail businesses in areas with high food retail concentration and low levels of competition.

Bill 119 HR 701, also known as the Small Food Retailer Incentive Act, aims to amend the Internal Revenue Code of 1986 in order to provide tax incentives for the establishment and operation of small food retail businesses in areas with high food retail concentration and low levels of competition. The bill is designed to address the issue of food deserts, which are areas where residents have limited access to affordable and nutritious food options.

Under this legislation, small food retail businesses that meet certain criteria, such as being located in a designated food desert area and having a certain percentage of their sales come from fresh produce and other healthy food options, would be eligible for tax incentives. These incentives could include tax credits, deductions, or other benefits to help offset the costs of starting and operating a small food retail business in these underserved areas.

The goal of the Small Food Retailer Incentive Act is to encourage the establishment of more small food retail businesses in areas where access to healthy food options is limited, ultimately improving the overall health and well-being of residents in these communities. By providing tax incentives to small food retailers, the bill aims to increase competition in these areas, drive down prices, and increase access to nutritious food options for residents who may otherwise have limited choices. Overall, Bill 119 HR 701 seeks to address the issue of food deserts by incentivizing the establishment and operation of small food retail businesses in underserved areas, ultimately improving access to healthy food options for residents in these communities.