Bill > HR9993

This bill, the "Restoring Establishment Deductions and Uplifting Competition to Ease Food Prices Act" or the "REDUCE Food Prices Act," aims to provide tax incentives for the establishment and operation of small food retail businesses in areas with high food retail concentration and low levels of competition. The key provisions of the bill include: 1) Increasing the rehabilitation tax credit from 20% to 25% for qualified small food retail businesses located in low-competition areas; 2) Increasing the work opportunity tax credit limits for qualified small food retail businesses; 3) Increasing the bonus depreciation rates for property and plants purchased or planted by qualified small food retail businesses; 4) Increasing the qualified business income deduction from 20% to 25% for qualified small food retail businesses; and 5) Introducing a new tax credit for "new food retail businesses" equal to 15% of qualified investment amounts.