The Grocer Reinvestment Option Act is a newly proposed legislation aimed at supporting grocery stores in Nebraska by establishing a program to facilitate investments in these businesses. The Act defines key terms such as "grocery store," "new investment," and outlines the creation of the Grocer Reinvestment Option Program, which will be administered by the Department of Economic Development. Eligible applicants can apply for grants to fund projects that improve access to nutritious food, with a focus on those located in smaller communities or counties with fewer than 40,000 residents. The program prioritizes applicants who demonstrate financial commitment and participation in federal nutrition assistance programs.

Additionally, the Act establishes the Grocer Reinvestment Option Fund to support the program's initiatives, with a stipulation that no more than 15% of the fund can be used for administrative costs. The Department is required to report annually on the funded projects and their outcomes. Grants must be utilized within three years, and any unspent funds will be recouped by the department and returned to the General Fund. The legislation also allows the department to create rules and regulations necessary for the implementation of the Act.