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2019 Session

Budget Amendments - SB1100 (Member Request)

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Chief Patron: Stanley
Virginia Grocery Investment Fund

Item 106 #2s

Item 106 #2s

First Year - FY2019 Second Year - FY2020
Commerce and Trade
Department of Housing and Community Development FY2019 $2,500,000 FY2020 $2,500,000 GF

Language
Page 104, line 42, strike "$69,855,721" and insert "$72,355,721".
Page 104, line 43, strike "$120,855,721" and insert "$123,355,721".

Page 108, after line 21, insert:

"N. Out of the amounts in this Item, $2,500,000 the first year and $2,500,000 the second year from the general fund is provided to establish a statewide Virginia Grocery Investment Fund for the purpose of expanding access to healthy foods in underserved communities. The department shall develop guidelines to carry out the program. Up to 10 percent of monies in the fund may be designated for administrative expenses incurred by a partnering community development financial institution. On or before December 1 of each year, the department shall report to the Secretary of Commerce and Trade, the Governor, and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance on such other matters regarding the fund as the department may deem appropriate, including the amount of funding committed to projects from the fund, or other items as may be requested by any of the foregoing persons to whom such report is to be submitted."



Explanation

(This amendment would establish the Virginia Grocery Investment Fund Program to address the lack of grocery stores and food retailers in underserved communities. The program and fund would be administered by the Department of Housing and Community Development. The amendment specifies up to 10 percent of the monies in the fund may be designated for administrative expenses incurred by a partnering community development financial institution. The amendment also directs the department to develop guidelines to carry out the program and to prepare an annual report.)