Section 1 Short title
This Act may be cited as the “Food Supply Chain Capacity and Resiliency Act”.
Food Supply Chain Capacity and Resiliency Act
A BILL
To increase the capacity of the food supply chain in the United States, and create a more resilient, diverse, and secure United States food supply chain, by codifying and expanding the Food Supply Chain Guaranteed Loan Program.
Sec. 2 Food Supply Chain Guaranteed Loan Program
In general— The Secretary of Agriculture (in this section referred to as the “Secretary”) may guarantee loans of not more than $80,000,000 made to support new investments in the start-up or expansion of projects in the United States that will increase the capacity of the food supply chain in the United States to aggregate, process, manufacture, store, transport, wholesale, or distribute food.
Priorities— In awarding loan guarantees under this section, the Secretary shall, when the amount available to carry out this section is less than the total of the amounts requested by applications under this section, give preference to loans for projects—
that create jobs in economically distressed communities; or
as the Secretary deems appropriate to help create a more resilient, diverse, and secure United States food supply chain.
Nonsupplantation of other funds— The Secretary shall use the amounts made available to carry out this section to supplement, and not supplant, funds provided under other Federal law or a State or local law.
Regulations— The Secretary shall prescribe such regulations as may be necessary to carry out this section.
Limitation on authorization of appropriations—
In general— To carry out this section, there are authorized to be appropriated to the Secretary not more than $29,000,000 for each of fiscal years 2024 through 2028.
Administration— Not more than $4,000,000 of the amounts provided under paragraph (1) for each of fiscal years 2024 through 2028 may be used by the Secretary for administrative purposes.
Availability— Amounts made available under paragraph (1) are authorized to remain available until expended.
Conforming amendment— Section 1001(b)(4) of the American Rescue Plan Act of 2021 (7 U.S.C. 7501 note) is amended by inserting “, except that this paragraph shall not be interpreted to authorize the Secretary to carry out any activity authorized by the Food Supply Chain Capacity and Resiliency Act” before the period.
Effective date— This section shall take effect 90 days after the date of the enactment of this Act.