Working Waterfront Disaster Mitigation Tax Credit Act

This bill creates a 30% tax credit for businesses investing in disaster mitigation projects on "working waterfront" properties, such as those used for commercial fishing, boating, or aquaculture. The credit covers up to $300,000 annually per business for eligible costs like floodproofing, shoreline stabilization, or warning systems designed to prevent damage from natural hazards. To qualify, a business must meet a gross receipts limit of $47 million annually and use the property for water-dependent activities with access to navigable waters. The credit applies to projects completed after 2025 and is limited to one claim per business every 10 years.