The bill proposes the establishment of the Texas Grocery Access Investment Fund Program, aimed at providing financing for the construction, rehabilitation, or expansion of grocery stores in underserved low-income and moderate-income areas across Texas. It introduces a new chapter, Chapter 26, to the Agriculture Code, which includes definitions for key terms such as "grocery store," "low-income area," and "fund." The program will be administered by the Department of Agriculture in collaboration with public and private partners, and it will be funded through various sources, including legislative appropriations, grants, and loans.

The bill outlines the operational framework for the program, including the requirement for the Department of Agriculture to contract with qualified nonprofit organizations or community development financial institutions to manage the program. It mandates that at least 25% of the fund be allocated for grants or forgivable loans, while limiting administrative costs to no more than 10%. Additionally, it sets forth eligibility criteria for projects seeking financing, emphasizing the need for projects to serve low-income or moderate-income areas and to promote healthy food access. The Department is tasked with establishing guidelines, monitoring compliance, and reporting annually on the program's impact. The bill is set to take effect on September 1, 2025.

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