arrow_back Back to App

Tax incentives for small food stores in low-competition areas

This act aims to lower food prices by supporting small food retail businesses in areas with limited competition. Through new tax incentives, these businesses will find it easier to start and grow, potentially increasing access to fresh food and lowering prices for residents. Citizens may experience improved access to food products and potentially lower grocery bills.
Key points
Increased tax credits for rehabilitation and modernization of buildings for small food retail businesses.
Higher tax credits for hiring employees in small food retail businesses.
Additional tax deductions for new investments in small food retail businesses.
New tax credit for newly established small food retail businesses.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_701
Sponsor: Rep. Sherrill, Mikie [D-NJ-11]
Process start date: 2025-01-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

REDUCE Food Prices Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_701.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-23.

What are the main provisions?

Key points include:

  • Increased tax credits for rehabilitation and modernization of buildings for small food retail businesses.
  • Higher tax credits for hiring employees in small food retail businesses.
  • Additional tax deductions for new investments in small food retail businesses.
  • New tax credit for newly established small food retail businesses.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sherrill, Mikie [D-NJ-11].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Economy Agriculture