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Tax Credit for Coastal Business Disaster Mitigation

This bill introduces a new tax credit for businesses located in coastal areas that invest in projects designed to protect against natural disasters like floods and erosion. The aim is to help businesses safeguard their operations and property, reducing future losses.
Key points
Coastal businesses can receive a tax credit of 30% for costs incurred on disaster mitigation projects.
The maximum credit amount is $300,000, with inflation adjustments possible after 2026.
Eligible projects include structural elevation, stormwater management, shoreline stabilization, floodproofing, and warning systems.
The credit is available to businesses with average annual gross receipts not exceeding $47 million, also subject to inflation adjustments.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4861
Sponsor: Rep. Pingree, Chellie [D-ME-1]
Process start date: 2025-08-01
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Working Waterfront Disaster Mitigation Tax Credit Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4861.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-08-01.

What are the main provisions?

Key points include:

  • Coastal businesses can receive a tax credit of 30% for costs incurred on disaster mitigation projects.
  • The maximum credit amount is $300,000, with inflation adjustments possible after 2026.
  • Eligible projects include structural elevation, stormwater management, shoreline stabilization, floodproofing, and warning systems.
  • The credit is available to businesses with average annual gross receipts not exceeding $47 million, also subject to inflation adjustments.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Pingree, Chellie [D-ME-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Environment Economy