Working Waterfront Disaster Mitigation Tax Credit Act

This bill creates a 30% tax credit for businesses that invest in disaster mitigation projects on qualifying "working waterfront" properties. It directly affects small waterfront businesses (with average annual gross receipts under $47 million) engaged in activities like commercial fishing, boating, or aquaculture. The credit covers costs for floodproofing, shoreline stabilization, structural elevation, or warning systems designed to prevent damage from natural hazards. A $300,000 annual limit applies per business, and projects must comply with specific building codes and be used for water-dependent commercial operations.