Waterfront businesses would get tax credits to protect against natural disasters.
The Working Waterfront Disaster Mitigation Tax Credit Act would create a new tax credit for certain businesses located on the waterfront. These businesses could get a tax credit for up to 30% of the cost of projects that protect their property from natural hazards like floods and erosion. This would help businesses that rely on navigable waters, such as those involved in fishing or boatbuilding, make their properties safer.
Currently, there is no specific federal tax credit for working waterfront businesses to invest in disaster mitigation projects. If this bill becomes law, eligible businesses would be able to claim a tax credit for 30% of the costs of projects designed to protect their property from natural hazards, making it more affordable to build resilience against disasters.
S 2538 · 119th Congress · July 30, 2025 · AI Summary by gemini-2.5-flash · 8/10
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3 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.