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 owners of working waterfronts—areas used for commercial fishing, aquaculture, and other maritime industries—who make investments in disaster mitigation measures. The tax credit would help offset the costs of projects designed to protect these waterfront properties from natural disasters like storms, flooding, and erosion. By making these protective upgrades more affordable, the bill aims to help waterfront businesses maintain their operations and preserve infrastructure critical to coastal economies. **Who It Affects** The primary beneficiaries would be commercial fishing operations, aquaculture businesses, and other maritime-dependent enterprises located in coastal areas. Waterfront property owners in states like Maine (where sponsor Senator Angus King is from) and other coastal regions would be most directly impacted.

The bill could also indirectly benefit coastal communities that depend on these working waterfronts for jobs and economic activity. **Current Status** As of now, S. 2538 remains in committee and has not yet advanced to a full Senate vote. The bill has not been enacted into law.