H.R. 9909, known as the "Working Waterfront Disaster Mitigation Tax Credit Act," aims to amend the Internal Revenue Code of 1986. It introduces a tax credit for hazard mitigation projects associated with certain working waterfront properties. The bill allows a 30% tax credit on qualified...
Simple Explanation
H.R. 9909 is a bill that wants to help protect places near the water, like where people fish or build boats, by giving them a bit of money back when they make their buildings safer. It gives them a 30% discount, like a coupon, but only up to $300,000, to fix things like flooding or the edges of the shore.