Support for Coastal Communities and Maritime Industries
This act aims to boost economic development in coastal and maritime areas. It introduces tax credits for hydroelectric facilities, loan programs for fishermen transitioning to alternative fuel vessels, and grants for seafood processing. The goal is to create jobs, improve infrastructure, and protect marine environments.
Key points
New tax credits for modernizing hydroelectric facilities, including improvements for fish passage and sediment transport.
Loan and grant programs for fishermen to purchase or retrofit alternative fuel vessels and develop necessary shoreside infrastructure.
Expansion of 'farmer' and 'farm' definitions to allow commercial fishermen and fish processors access to Department of Agriculture loans and grants.
Financial support for developing seafood processing and cold storage in small rural coastal communities, prioritizing small businesses.
Grant program to preserve and improve access to working waterfronts, vital for commercial fishing, mariculture, and boatbuilding industries.
Establishment of a maritime workforce grant program, including training, scholarships, and youth programs.
Strengthening safety standards for fishing vessels, including training on behavioral and physical health risks for crews.
Creation of Ocean Innovation Clusters to foster sustainable Blue Economy growth and job creation.
Mapping and inventorying vegetated coastal and Great Lakes ecosystems to assess carbon sequestration potential and climate resilience.
Support for pilot projects and research on coastal natural infrastructure in cold climates to protect against storm surges and erosion.
Improved collaboration and engagement with communities, including Indian Tribes, on ocean acidification research and mitigation.
Introduced
Citizen Poll