Working Waterfront Disaster Mitigation Tax Credit Act

# Working Waterfront Disaster Mitigation Tax Credit Act Summary **What the Bill Would Do** This bill would create a new tax credit for property owners and businesses located on working waterfronts—areas where commercial fishing, maritime, and waterfront industries operate. The tax credit would help offset costs associated with protecting these properties from natural disasters like storms, flooding, and sea-level rise. If passed, the legislation would allow eligible waterfront businesses and property owners to claim a tax reduction when they invest in disaster mitigation measures such as flood barriers, seawalls, or resilient infrastructure improvements. **Who It Affects and Key Details** The bill primarily targets commercial fishing communities, maritime workers, and waterfront business owners—industries that are vulnerable to coastal disasters and climate impacts.

By making disaster preparation more affordable through tax incentives, the legislation aims to help these economically important communities protect their livelihoods and infrastructure. The specific details about credit amounts, eligible improvements, and eligibility requirements would be defined in the final bill language. **Current Status** As of now, HR 4861 remains in committee and has not advanced to a floor vote. The bill was introduced by Representative Chellie Pingree (D-Maine), whose district includes significant coastal and fishing communities.