Fields & Hinrichsen Bill to Improve Healthy Food Access Earns Senate Approval

HB23-1008 creates tax credits for small food businesses and farms to improve access to local, fresh produce

DENVER, CO – Today, a bill sponsored by Senator Rhonda Fields, D-Aurora, and Senator Nick Hinrichsen, D-Pueblo, to modify food related tax credits was approved by the Senate. 

HB23-1008 creates a refundable income tax credit for small food businesses and local farms to cover up to 85 percent of the cost to buy new systems and equipment, and will pay for a majority of the program by closing tax loopholes that allow businesses to deduct meal and drink expenses from their taxable income. For FY 2023-24, the bill also funds healthy eating program incentives. 

“Working people in my district and across the state don’t get a tax break on their lunches, and too many of them don’t have enough to eat at all," said Fields. “I am happy to close this tax loophole that only benefits the wealthiest Coloradans, and redirect the funds toward addressing food insecurity so that more Coloradans can afford to put food on the table.” 

“Family owned farms and food retailers need our support more than corporate boardrooms," said Hinrichsen. “This bill will reduce hunger and strengthen local supply chains in urban and rural parts of Colorado, with a minimal impact on state finances.” 

The bill expands on a bipartisan law from last session to improve access to healthy foods in low income and underserved communities. Ending the tax loophole that allows for big businesses to deduct meals from their state taxes will enable the state to transfer $1 million annually to the Healthy Food Incentive Fund, helping local businesses afford critical equipment and removing financial barriers to nutrition.

HB23-1008 now moves back to the House for concurrence on amendments. To follow the bill’s progress, click HERE.