Working Waterfront Disaster Mitigation Tax Credit Act

This bill creates a 30% tax credit for small businesses that install disaster mitigation measures on qualifying waterfront properties. It directly affects small businesses (with average annual revenue under $47 million) operating on "working waterfront" property used for commercial fishing, boating, aquaculture, or other water-dependent activities. The credit covers 30% of eligible project costs - up to $300,000 annually - for specific flood/erosion protections like structural elevation, stormwater management, shoreline stabilization, or floodproofing. Projects must comply with updated building codes and cannot overlap with existing rehabilitation credits.