The bill, titled the "Working Waterfront Disaster Mitigation Tax Credit Act," aims to amend the Internal Revenue Code of 1986. It proposes a 30% tax credit for investments in hazard mitigation projects related to working waterfront properties, with a maximum limit of $300,000 per taxpayer....
Simple Explanation
This bill wants to help people who own boats or work by water places by giving them special money back, called a tax credit, to make their places safer from storms. They can get back 30% of the money they spend, but there are some rules and limits on how much they can get back.