I
119THCONGRESS
1
STSESSION H. R. 1808
To amend the Coastal Zone Management Act of 1972 to establish a working
waterfronts Task Force and working waterfronts grant and loan pro-
grams, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
MARCH3, 2025
Ms. P
INGREE(for herself, Mr. WITTMAN, Mr. GOLDENof Maine, Mr.
P
ETERS, Mr. TONKO, Mr. CARBAJAL, Mr. MAGAZINER, Ms. TOKUDA, Ms.
B
ROWN, Mr. CARTERof Louisiana, and Mr. AMO) introduced the fol-
lowing bill; which was referred to the Committee on Natural Resources
A BILL
To amend the Coastal Zone Management Act of 1972 to
establish a working waterfronts Task Force and working
waterfronts grant and loan programs, and for other pur-
poses.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Keep America’s Water-4
fronts Working Act of 2025’’. 5
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SEC. 2. WORKING WATERFRONTS. 1
The Coastal Zone Management Act of 1972 (16 2
U.S.C. 1451 et seq.) is amended by inserting after section 3
306A (16 U.S.C. 1455a) the following: 4
‘‘SEC. 306B. WORKING WATERFRONTS. 5
‘‘(a) T
ASKFORCE.— 6
‘‘(1) I
N GENERAL.—The Secretary shall estab-7
lish a task force to work directly with covered enti-8
ties, users of working waterfronts, and coastal stake-9
holders to identify and address critical needs with 10
respect to working waterfronts. 11
‘‘(2) M
EMBERSHIP.—The Secretary shall ap-12
point members of the Task Force, and shall in-13
clude— 14
‘‘(A) experts in the unique economic, so-15
cial, cultural, ecological, geographic, and re-16
source concerns of working waterfronts; and 17
‘‘(B) representatives from— 18
‘‘(i) the Office of Coastal Management 19
of the National Oceanic and Atmospheric 20
Administration; 21
‘‘(ii) the United States Fish and Wild-22
life Service; 23
‘‘(iii) the Department of Agriculture; 24
‘‘(iv) the Environmental Protection 25
Agency; 26
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‘‘(v) the United States Geological Sur-1
vey; 2
‘‘(vi) the Department of the Navy; 3
‘‘(vii) the National Marine Fisheries 4
Service; 5
‘‘(viii) the Economic Development Ad-6
ministration; 7
‘‘(ix) such other Federal agencies as 8
the Secretary determines appropriate; 9
‘‘(x) Indian Tribes; and 10
‘‘(xi) Native Hawaiian organizations. 11
‘‘(3) F
UNCTIONS.—The Task Force shall— 12
‘‘(A) identify and prioritize critical needs 13
with respect to working waterfronts in coastal 14
states that have a management program ap-15
proved under section 306, in the areas of— 16
‘‘(i) economic and cultural importance 17
of such working waterfronts to commu-18
nities; 19
‘‘(ii) changing circumstances and 20
threats such working waterfronts face from 21
trade barriers and environmental changes, 22
including sea level rise, extreme weather 23
events, ocean acidification, and harmful 24
algal blooms; and 25
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‘‘(iii) identifying such working water-1
fronts and highlighting them within com-2
munities; 3
‘‘(B) outline options, in consultation with 4
coastal states and coastal stakeholders, to ad-5
dress each critical need identified under sub-6
paragraph (A), including adaptation and miti-7
gation options where applicable; 8
‘‘(C) identify which Federal agency is re-9
sponsible for addressing each critical need iden-10
tified under subparagraph (A); and 11
‘‘(D) recommend which Federal agency is 12
best suited to address each critical need identi-13
fied under subparagraph (A) for which no re-14
sponsible Federal agency is identified under 15
subparagraph (C). 16
‘‘(4) R
EPORT.—Not later than 18 months after 17
the date of the enactment of this section, the Task 18
Force shall submit to Congress a report regarding 19
the findings of the Task Force under this sub-20
section. 21
‘‘(5) I
MPLEMENTATION.—Not later than 30 22
months after the date of the enactment of this sec-23
tion, the head of each Federal agency identified 24
under paragraph (3)(C) shall, to the extent prac-25
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ticable and subject to the availability of appropria-1
tions, implement the options outlined under para-2
graph (3)(B). 3
‘‘(b) W
ORKINGWATERFRONTSPLAN.— 4
‘‘(1) I
N GENERAL.—A covered entity may sub-5
mit to the Secretary a working waterfronts plan for 6
approval under this subsection, which, as applicable 7
and with respect to the covered entity— 8
‘‘(A) shall— 9
‘‘(i) provide for the preservation and 10
expansion of access to coastal waters by 11
coastal users; 12
‘‘(ii) be complementary to and incor-13
porate the policies, objectives, and regula-14
tions of regional and local working water-15
fronts plans or strategies in effect before 16
the date of the enactment of this section; 17
‘‘(iii) be developed through a process 18
that— 19
‘‘(I) ensures the involvement of 20
coastal stakeholders; and 21
‘‘(II) is consistent with other 22
coastal management programs, regu-23
lations, and activities of the covered 24
entity; 25
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‘‘(iv) designate each qualified holder 1
of the covered entity, if any; 2
‘‘(v) if the covered entity designates a 3
qualified holder under clause (iv)— 4
‘‘(I) ensure that such qualified 5
holder complies with the duty of a 6
qualified holder to enforce each work-7
ing waterfront covenant to which the 8
qualified holder is a party; and 9
‘‘(II) certify that the covered en-10
tity retains the responsibility to en-11
sure that each affected working water-12
front is managed in a manner that is 13
consistent with the working water-14
fronts plan of the covered entity; and 15
‘‘(vi) include— 16
‘‘(I) an assessment of the eco-17
nomic, social, cultural, and historical 18
value of working waterfronts; 19
‘‘(II) a description of any rel-20
evant non-Federal laws and regula-21
tions that affect working waterfronts 22
in the geographic areas identified 23
under subclauses (III) and (IV); 24
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‘‘(III) an identification of geo-1
graphic areas where working water-2
fronts are, as of the date of the enact-3
ment of this subsection, under threat 4
of conversion to uses incompatible 5
with commercial and recreational fish-6
ing, recreational fishing and boating 7
businesses, aquaculture, boatbuilding, 8
or other water-dependent, coastal-re-9
lated business, and the level of that 10
threat; 11
‘‘(IV) an identification of geo-12
graphic areas with a historical connec-13
tion to working waterfronts where 14
working waterfronts are not, as of the 15
date of the enactment of this section, 16
available, and, where appropriate, an 17
assessment of the environmental im-18
pacts of any expansion or new devel-19
opment of working waterfronts on the 20
coastal ecosystems of such geographic 21
areas; 22
‘‘(V) an identification of addi-23
tional working waterfronts needs, in-24
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cluding improvements to existing 1
working waterfronts; 2
‘‘(VI) a strategic and prioritized 3
plan for the preservation, expansion, 4
and improvement of each relevant 5
working waterfront; 6
‘‘(VII) for geographic areas iden-7
tified under subclauses (III) and (IV), 8
an identification of the current avail-9
ability and potential for expansion of 10
public access to coastal waters in such 11
geographic areas; 12
‘‘(VIII) a description of the de-13
gree of community support for the 14
plan included under subclause (VI); 15
and 16
‘‘(IX) a contingency plan for any 17
property that reverts to the covered 18
entity pursuant to a determination 19
made by the covered entity under sub-20
section (c)(11)(B); and 21
‘‘(B) may— 22
‘‘(i) be developed using existing infor-23
mation contained in relevant surveys, 24
plans, or other documents to fulfill the in-25
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formation requirements under this para-1
graph; 2
‘‘(ii) include a vulnerability assess-3
ment, hazards resilience plan, or identifica-4
tion of waterfront properties exposed to 5
sea level rise or inundation; and 6
‘‘(iii) be part of a management pro-7
gram approved under section 306. 8
‘‘(2) D
URATION OF APPROVAL .— 9
‘‘(A) I
N GENERAL.—A working waterfronts 10
plan approved by the Secretary under this sub-11
section shall be effective during the 5-year pe-12
riod beginning on the date of such approval. 13
‘‘(B) M
AINTENANCE OF APPROVAL .—An 14
eligible covered entity that participates in the 15
grant program on the basis of an approved 16
working waterfronts plan of that eligible cov-17
ered entity shall resubmit such working water-18
fronts plan for approval by the Secretary before 19
the end of each 5-year period described in sub-20
paragraph (A). 21
‘‘(c) W
ORKINGWATERFRONTSGRANTPROGRAM.— 22
‘‘(1) I
N GENERAL.—The Secretary shall, in con-23
sultation with covered entities, Federal agencies the 24
Secretary determines appropriate, and interested 25
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coastal stakeholders with expertise in working water-1
fronts planning, establish a regionally equitable and 2
competitive grant program, to be known as the 3
‘Working Waterfronts Grant Program’. 4
‘‘(2) U
SES.—The Secretary may award grants 5
under this subsection to eligible covered entities— 6
‘‘(A) to implement or revise an approved 7
working waterfronts plan of such eligible cov-8
ered entity, including— 9
‘‘(i) acquiring a working waterfront or 10
an interest in a working waterfront; 11
‘‘(ii) making improvements to a work-12
ing waterfront, including constructing or 13
repairing wharfs, boat ramps, or related 14
facilities; or 15
‘‘(iii) carrying out necessary climate 16
adaptation mitigation activities for a work-17
ing waterfront; or 18
‘‘(B) to develop a working waterfronts plan 19
of such eligible covered entity under subsection 20
(b). 21
‘‘(3) A
PPLICATION.— 22
‘‘(A) I
N GENERAL.—To be eligible for a 23
grant under this subsection, an eligible covered 24
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entity shall submit an application to the Sec-1
retary— 2
‘‘(i) that, if applicable, is consistent 3
with the management program of the eligi-4
ble covered entity approved under section 5
306; and 6
‘‘(ii) in such form, at such time, and 7
containing such information as the Sec-8
retary determines appropriate. 9
‘‘(B) D
EADLINE.—Not later than 60 days 10
after the date on which the Secretary receives 11
an application for a grant under this para-12
graph, the Secretary shall approve or reject 13
such application. 14
‘‘(4) G
UIDELINES.—The Secretary shall, in 15
consultation with the entities described in paragraph 16
(1), issue guidelines regarding the implementation of 17
the grant program. 18
‘‘(5) C
RITERIA.—In awarding a grant to an eli-19
gible covered entity, the Secretary shall take into ac-20
count the following criteria: 21
‘‘(A) The economic, cultural, and historical 22
significance of working waterfronts to the eligi-23
ble covered entity. 24
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‘‘(B) The demonstrated working water-1
fronts needs of the eligible covered entity, as 2
described in the approved working waterfronts 3
plan of the eligible covered entity, if any. 4
‘‘(C) The ability of the eligible covered en-5
tity to meet the matching requirement under 6
paragraph (10). 7
‘‘(D) The potential for rapid turnover in 8
the ownership of relevant working waterfronts, 9
and, if applicable, the need for the eligible cov-10
ered entity to respond quickly when property in 11
an existing or potential working waterfront area 12
or public access area, as identified in the ap-13
proved working waterfronts plan of the eligible 14
covered entity, if any, comes under threat of 15
conversion to incompatible uses or becomes 16
available for purchase. 17
‘‘(E) As applicable, the impact of the ap-18
proved working waterfronts plan of the eligible 19
covered entity, if any, on the coastal ecosystem 20
and working waterfronts of the eligible covered 21
entity and the users of the coastal ecosystem of 22
the eligible covered entity. 23
‘‘(6) O
THER TECHNICAL AND FINANCIAL AS -24
SISTANCE.— 25
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‘‘(A) IN GENERAL.—Upon the request of 1
an eligible covered entity that is awarded a 2
grant under this subsection, the Secretary shall 3
provide to such eligible covered entity technical 4
assistance— 5
‘‘(i) to identify and obtain sources of 6
Federal technical or financial assistance 7
other than that provided under this sub-8
section to develop a working waterfronts 9
plan for approval under subsection (b) or 10
to implement or revise an approved work-11
ing waterfronts plan; 12
‘‘(ii) to develop a working waterfronts 13
plan for approval under subsection (b); 14
‘‘(iii) to implement or revise an ap-15
proved working waterfronts plan; 16
‘‘(iv) to integrate resilience planning 17
into working waterfronts preservation ef-18
forts of such eligible covered entity; 19
‘‘(v) to develop additional tools to pro-20
tect working waterfronts; 21
‘‘(vi) regarding guidance for best 22
storm water management practices with 23
regard to working waterfronts; or 24
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‘‘(vii) to collect and disseminate best 1
practices regarding working waterfronts 2
and resilience planning. 3
‘‘(B) L
IMITATION.—The Secretary may 4
use not more than 5 percent of the amounts 5
made available under this subsection in each 6
fiscal year to provide technical assistance under 7
this paragraph. 8
‘‘(7) P
UBLIC ACCESS REQUIREMENT .—A 9
project carried out with a grant awarded under this 10
subsection, other than a project that involves com-11
mercial fishing or other industrial access points to 12
which the eligible covered entity determines public 13
access would be unsafe, shall provide for the expan-14
sion, improvement, or preservation of reasonable and 15
appropriate public access to coastal waters at or in 16
the vicinity of working waterfronts. 17
‘‘(8) L
IMITATION ON ACQUISITION.—An eligible 18
covered entity that is awarded a grant under this 19
subsection, or any entity to which such eligible cov-20
ered entity allocates a portion of such grant under 21
paragraph (9), may use such grant award to acquire 22
title to or an interest in a working waterfront, in-23
cluding an easement, only— 24
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‘‘(A) for fair market value from a willing 1
seller; or 2
‘‘(B) for less than fair market value from 3
a seller that certifies to the Secretary that the 4
seller is willing and is not subject to coercion. 5
‘‘(9) A
LLOCATION.— 6
‘‘(A) I
N GENERAL.—An eligible covered en-7
tity that is awarded a grant under this sub-8
section may allocate a portion of such grant 9
award to a unit of State or local government, 10
a nonprofit organization, a fishing cooperative, 11
or any other appropriate entity for the purpose 12
of carrying out this subsection if such eligible 13
covered entity ensures that any such allocated 14
grant award is used consistently with this sub-15
section. 16
‘‘(B) I
DENTIFIED WORKING WATER -17
FRONTS.—The Secretary shall encourage each 18
eligible covered entity that is awarded a grant 19
under this subsection to equitably allocate such 20
grant award among working waterfronts identi-21
fied in the approved working waterfronts plan 22
of each such eligible covered entity, if any. 23
‘‘(10) M
ATCHING REQUIREMENT .— 24
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‘‘(A) IN GENERAL.—Except as provided in 1
subparagraph (B), the Federal share of a 2
project carried out with a grant awarded under 3
this subsection may not exceed 75 percent. 4
‘‘(B) W
AIVER OF MATCHING REQUIRE -5
MENT.—The Secretary may waive the applica-6
tion of subparagraph (A)— 7
‘‘(i) with respect to an eligible covered 8
entity that is awarded a grant under this 9
subsection that has designated a qualified 10
holder that is located within— 11
‘‘(I) a disadvantaged community; 12
or 13
‘‘(II) a community that has an 14
inability to draw on other sources of 15
funding because of the small popu-16
lation or low income of the commu-17
nity; or 18
‘‘(ii) for any other reason the Sec-19
retary determines appropriate. 20
‘‘(C) N
ON-FEDERAL SHARE .—An eligible 21
covered entity that is awarded a grant under 22
this subsection may satisfy the non-Federal 23
share of a project carried out with a grant 24
awarded under this subsection through in-kind 25
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contributions and other noncash support, in-1
cluding the following: 2
‘‘(i) The value, as determined by an 3
appraisal performed at such time before 4
the award of the grant as the Secretary de-5
termines appropriate, of a working water-6
front or an interest in a working water-7
front, including conservation and other 8
easements, that is held in perpetuity by a 9
qualified holder, if the working waterfront 10
or interest in a working waterfront— 11
‘‘(I) is identified in the grant ap-12
plication; and 13
‘‘(II) is acquired by the qualified 14
holder not later than 3 years after— 15
‘‘(aa) the grant award date; 16
or 17
‘‘(bb) the date of the sub-18
mission of such application and 19
before the end of the initial 5- 20
year period for which the ap-21
proved working waterfronts plan 22
associated with the grant applica-23
tion, if any, is effective. 24
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‘‘(ii) The costs, including cash or in- 1
kind contributions, associated with the ac-2
quisition, restoration, or enhancement of or 3
making other improvements to a working 4
waterfront or an interest in a working wa-5
terfront, if— 6
‘‘(I) such costs are identified in 7
the grant application; and 8
‘‘(II) the costs are incurred— 9
‘‘(aa) before the end of the 10
initial 5-year period for which the 11
approved working waterfronts 12
plan associated with the grant 13
application, if any, is effective; or 14
‘‘(bb) for working water-15
fronts described in clause (i), 16
within the time limits described 17
in that clause. 18
‘‘(11) W
ORKING WATERFRONT COVENANTS .— 19
‘‘(A) I
N GENERAL.—An eligible covered en-20
tity that is awarded a grant under this sub-21
section may use such grant award with respect 22
to a working waterfront only for which each 23
person other than the eligible covered entity 24
that holds title to or an interest in such work-25
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ing waterfront enters into a working waterfront 1
covenant. 2
‘‘(B) V
IOLATION.— 3
‘‘(i) I
N GENERAL.—An eligible covered 4
entity may determine, on the record after 5
an opportunity for a hearing, that a work-6
ing waterfront covenant of the eligible cov-7
ered entity has been violated. 8
‘‘(ii) R
EVERSION; CONVEYANCE; 9
RIGHT OF IMMEDIATE ENTRY .—If an eligi-10
ble covered entity makes a determination 11
under clause (i) that a violation described 12
under that clause has occurred— 13
‘‘(I) all right, title, and interest 14
in and to the working waterfront cov-15
ered by the violated working water-16
front covenant shall revert to the eligi-17
ble covered entity; 18
‘‘(II) the eligible covered entity 19
may convey the working waterfront or 20
interest in the working waterfront to 21
a qualified holder; and 22
‘‘(III) the eligible covered entity 23
shall have the right of immediate 24
entry onto the working waterfront 25
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covered by the violated working water-1
front covenant. 2
‘‘(12) T
ERMS AND CONDITIONS .—The Secretary 3
shall subject each grant awarded under this sub-4
section to such terms and conditions as the Sec-5
retary determines appropriate to ensure that each 6
such grant is used for purposes consistent with this 7
section. 8
‘‘(13) R
EPORT.— 9
‘‘(A) I
N GENERAL.—The Secretary shall 10
biennially submit to Congress a report regard-11
ing the implementation of this subsection, 12
which shall include— 13
‘‘(i) an evaluation, based on perform-14
ance measures developed by the Secretary, 15
of the effectiveness of the grant program 16
in accomplishing the purposes of this sub-17
section; 18
‘‘(ii) an account of all expenditures 19
under this subsection; and 20
‘‘(iii) descriptions of each project car-21
ried out using a grant awarded under this 22
section. 23
‘‘(B) A
LTERNATIVE MANNER OF SUBMIS -24
SION.—The Secretary may submit each report 25
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required under subparagraph (A) by including 1
the information required under that subpara-2
graph in each report required under section 3
316. 4
‘‘(14) A
DMINISTRATIVE EXPENSES .—The Sec-5
retary may use not more than 5 percent of the 6
amounts made available under this subsection in 7
each fiscal year to pay the administrative expenses 8
necessary to carry out this subsection. 9
‘‘(15) A
UTHORIZATION OF APPROPRIATIONS .— 10
There is authorized to be appropriated to the Sec-11
retary to carry out this subsection $50,000,000 for 12
each of fiscal years 2025 through 2029. 13
‘‘(d) D
EFINITIONS.—In this section: 14
‘‘(1) A
PPROVED WORKING WATERFRONTS 15
PLAN.—The term ‘approved working waterfronts 16
plan’ means a working waterfronts plan that is ap-17
proved by the Secretary under subsection (b). 18
‘‘(2) C
OASTAL INDIAN TRIBE .—The term 19
‘coastal Indian Tribe’ means an Indian Tribe with 20
respect to which land owned by the Indian Tribe, 21
held in trust by the United States for the Indian 22
Tribe, or held by the Indian Tribe and subject to re-23
strictions on alienation imposed by the United 24
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States or the reservation of the Indian Tribe is lo-1
cated within a coastal state. 2
‘‘(3) C
OASTAL USERS.—The term ‘coastal 3
users’ means— 4
‘‘(A) persons that engage in commercial or 5
recreational fishing; 6
‘‘(B) recreational fishing and boating busi-7
nesses; and 8
‘‘(C) boatbuilding, aquaculture, and other 9
water-dependent, coastal-related businesses. 10
‘‘(4) C
OVERED ENTITY.—The term ‘covered en-11
tity’ means— 12
‘‘(A) a coastal state; 13
‘‘(B) a coastal Indian Tribe; or 14
‘‘(C) a Native Hawaiian organization. 15
‘‘(5) E
LIGIBLE COVERED ENTITY .—The term 16
‘eligible covered entity’ means a covered entity 17
that— 18
‘‘(A) has an approved working waterfronts 19
plan; 20
‘‘(B) is in the process of developing a 21
working waterfronts plan for approval under 22
subsection (b); or 23
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‘‘(C) has a coastal land use plan that the 1
Secretary determines is sufficient for the pur-2
poses of this section. 3
‘‘(6) G
RANT PROGRAM.—The term ‘grant pro-4
gram’ means the grant program established under 5
subsection (c). 6
‘‘(7) I
NDIAN TRIBE.—The term ‘Indian Tribe’ 7
has the meaning given the term in section 4 of the 8
Indian Self-Determination and Education Assistance 9
Act (25 U.S.C. 5304). 10
‘‘(8) N
ATIVE HAWAIIAN ORGANIZATION .—The 11
term ‘Native Hawaiian organization’ means a non-12
profit organization— 13
‘‘(A) that serves the interests of Native 14
Hawaiians; 15
‘‘(B) in which Native Hawaiians serve in 16
substantive and policymaking positions; 17
‘‘(C) that is recognized for having expertise 18
in Native Hawaiian culture and heritage, in-19
cluding tourism; and 20
‘‘(D) is located within a coastal state. 21
‘‘(9) Q
UALIFIED HOLDER.—The term ‘qualified 22
holder’ means— 23
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‘‘(A) a unit of local government of a cov-1
ered entity, if the covered entity is a coastal 2
state; or 3
‘‘(B) a nonprofit organization; 4
that is designated by a covered entity in the ap-5
proved working waterfronts plan of the covered enti-6
ty to carry out some or all of the functions of the 7
covered entity under the grant program if the cov-8
ered entity applies for and is awarded a grant under 9
the grant program, including holding title to or an 10
interest in a working waterfront acquired with a 11
grant awarded under the grant program. 12
‘‘(10) T
ASK FORCE.—The term ‘Task Force’ 13
means the task force established under subsection 14
(a)(1). 15
‘‘(11) D
ISADVANTAGED COMMUNITY .—The 16
term ‘disadvantaged community’ means a commu-17
nity the Secretary determines, based on appropriate 18
data, indices, and screening tools, is economically, 19
socially, or environmentally disadvantaged. 20
‘‘(12) W
ORKING WATERFRONT .—The term 21
‘working waterfront’ means real property (including 22
support structures over water and other facilities) 23
that— 24
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‘‘(A) provides access to coastal waters by 1
coastal users; and 2
‘‘(B) is used for, or supports, commercial 3
and recreational fishing, recreational fishing 4
and boating businesses, and boatbuilding, aqua-5
culture, and other water-dependent, coastal-re-6
lated business. 7
‘‘(13) W
ORKING WATERFRONT COVENANT .— 8
The term ‘working waterfront covenant’ means an 9
agreement in recordable form entered into between 10
a person that holds title to or an interest in a work-11
ing waterfront and a covered entity that is awarded 12
a grant under the grant program or a qualified hold-13
er of such covered entity that provides such assur-14
ances as the Secretary determines necessary to en-15
sure the following: 16
‘‘(A) Except as provided in subparagraph 17
(C), the title to or interest in the working wa-18
terfront will be held by an entity that is subject 19
to such agreement in perpetuity. 20
‘‘(B) The working waterfront will be man-21
aged in a manner that is consistent with the 22
purposes of this section, and the working water-23
front will not be converted to any use that is in-24
consistent with this section. 25
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‘‘(C) If the title to or interest in the work-1
ing waterfront is subsequently sold or otherwise 2
exchanged— 3
‘‘(i) each party involved in such sale 4
or exchange shall accede to such agree-5
ment; and 6
‘‘(ii) funds equal to the fair market 7
value of the title to or interest in the work-8
ing waterfront shall be paid to the Sec-9
retary by the parties to the sale or ex-10
change, and such funds shall be, at the 11
discretion of the Secretary, paid to the rel-12
evant covered entity or a qualified holder 13
of such covered entity for use in the imple-14
mentation of the approved working water-15
fronts plan of the covered entity. 16
‘‘(D) Such agreement shall be subject to 17
enforcement and oversight by the covered entity 18
or by another person as the Secretary deter-19
mines appropriate. 20
‘‘SEC. 306C. WORKING WATERFRONTS PRESERVATION 21
LOAN FUND. 22
‘‘(a) G
ENERALAUTHORITY.— 23
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‘‘(1) GRANTS TO ELIGIBLE COASTAL STATES TO 1
ESTABLISH WORKING WATERFRONTS PRESERVATION 2
LOAN FUNDS.— 3
‘‘(A) I
N GENERAL.—The Secretary may 4
enter into an agreement with an eligible coastal 5
state to issue a capitalization grant, including a 6
letter of credit, to such eligible coastal state to 7
implement the approved working waterfronts 8
plan of such eligible coastal state. 9
‘‘(B) E
STABLISHMENT OF WORKING WA -10
TERFRONTS PRESERVATION LOAN FUNDS .— 11
‘‘(i) I
N GENERAL.—To be eligible to 12
receive a capitalization grant under this 13
subsection, an eligible coastal state shall 14
establish a working waterfronts preserva-15
tion loan fund. 16
‘‘(ii) D
EPOSIT.—Each capitalization 17
grant made to an eligible coastal state 18
under this paragraph shall be deposited in 19
the working waterfronts preservation loan 20
fund of such eligible coastal state. 21
‘‘(C) E
XTENDED PERIOD .—A capitaliza-22
tion grant made to an eligible coastal state 23
under this section shall be available to the eligi-24
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ble coastal state for obligation for a period of 1
2 fiscal years. 2
‘‘(2) U
SE OF FUNDS.— 3
‘‘(A) I
N GENERAL.—An eligible coastal 4
state shall use amounts deposited in the work-5
ing waterfronts preservation loan fund of such 6
eligible coastal state, including loan repayments 7
and interest earned on such amounts, to pro-8
vide financial assistance described in subsection 9
(f) to a covered entity to implement the ap-10
proved working waterfronts plan of such eligible 11
coastal state through preservation, improve-12
ment, restoration, rehabilitation, and acquisi-13
tion of working waterfronts pursuant to criteria 14
established by the Secretary. 15
‘‘(B) S
ALE OF BONDS.—A covered entity 16
may use amounts received under this section as 17
a source of revenue (restricted solely to interest 18
earnings of the applicable working waterfronts 19
preservation loan fund) or security for payment 20
of the principal and interest on a revenue or 21
general obligation bond issued by the eligible 22
coastal state to provide matching funds under 23
subsection (e) if the proceeds of the sale of the 24
bond will be deposited in the working water-25
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fronts preservation loan fund of such eligible 1
coastal state. 2
‘‘(C) N
O INCREASED BONDING AUTHOR -3
ITY.—Amounts deposited in the working water-4
fronts preservation loan fund of an eligible 5
coastal state may not be used as a source of 6
payment of, or security for (directly or indi-7
rectly), in whole or in part, any obligation the 8
interest on which is exempt from the tax im-9
posed under chapter 1 of the Internal Revenue 10
Code of 1986. 11
‘‘(3) L
IMITATION.—An eligible coastal state 12
may not provide financial assistance described in 13
subsection (f) to a covered entity that does not have 14
the technical, managerial, and financial capability to 15
ensure compliance with the requirements of this sec-16
tion. 17
‘‘(4) P
REVAILING WAGES.—The Secretary shall 18
ensure compliance with the provisions of the Act of 19
March 3, 1931 (40 U.S.C. 3141 et seq.; commonly 20
known as the ‘Davis-Bacon Act’) with respect to any 21
construction project carried out in whole or in part 22
with financial assistance made available from a 23
working waterfronts preservation loan fund. 24
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‘‘(5) RESERVATION.—Each eligible coastal state 1
that enters into a capitalization agreement under 2
paragraph (1) shall, each fiscal year, reserve 0.2 3
percent of the amount in the working waterfronts 4
preservation loan fund of the eligible coastal state to 5
provide financial assistance described in subsection 6
(f) to an Indian Tribe or a Native Hawaiian organi-7
zation. 8
‘‘(b) I
NTENDEDUSEPLANS.— 9
‘‘(1) I
N GENERAL.—Each eligible coastal state 10
that enters into a capitalization agreement under 11
subsection (a)(1) shall annually prepare an intended 12
use plan, subject to notice and an opportunity for 13
public comment, that identifies the intended uses of 14
the amounts available to the working waterfronts 15
preservation loan fund of the eligible coastal state. 16
‘‘(2) C
ONTENTS.—Each intended use plan pre-17
pared by an eligible coastal state under paragraph 18
(1) shall include, with respect to the eligible coastal 19
state— 20
‘‘(A) a list of each project to be assisted 21
with amounts from the working waterfronts 22
preservation loan fund in the first fiscal year 23
that begins after the date such intended use 24
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plan is finalized, including, with respect to each 1
such project— 2
‘‘(i) a description of the project; 3
‘‘(ii) the expected terms of financial 4
assistance; and 5
‘‘(iii) the size of the community 6
served; 7
‘‘(B) the criteria and methods established 8
to distribute amounts from the working water-9
fronts preservation loan fund; and 10
‘‘(C) a description of the financial status of 11
the working waterfronts preservation loan fund 12
and the short- and long-term goals of such 13
working waterfronts preservation loan fund. 14
‘‘(c) W
ORKINGWATERFRONTSPRESERVATIONLOAN 15
F
UNDMANAGEMENT.— 16
‘‘(1) I
N GENERAL.—Each working waterfronts 17
preservation loan fund under this section shall be es-18
tablished, maintained, and credited with repayments 19
and interest and the fund corpus shall be available 20
in perpetuity to provide financial assistance de-21
scribed in subsection (f) to covered entities under 22
this section. 23
‘‘(2) E
XTRA AMOUNTS.—To the extent amounts 24
in a working waterfronts preservation loan fund are 25
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not required for obligation or expenditure, such 1
amounts shall be invested in interest-bearing obliga-2
tions. 3
‘‘(d) A
SSISTANCE FOR DISADVANTAGED COMMU-4
NITIES.— 5
‘‘(1) L
OAN SUBSIDY.— 6
‘‘(A) I
N GENERAL.—Notwithstanding any 7
other provision of this section, if an eligible 8
coastal state makes a loan to a disadvantaged 9
community pursuant to subsection (a)(2), the 10
eligible coastal state may provide additional 11
subsidization to such disadvantaged community, 12
including— 13
‘‘(i) forgiveness of principal; 14
‘‘(ii) grants; 15
‘‘(iii) negative interest loans; 16
‘‘(iv) other loan forgiveness; and 17
‘‘(v) through buying, refinancing, or 18
restructuring debt. 19
‘‘(B) E
XCLUSION.—A loan from a working 20
waterfronts preservation loan fund with an in-21
terest rate equal to or greater than 0 percent 22
shall not be considered additional subsidization 23
for the purposes of this subsection. 24
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‘‘(2) TOTAL AMOUNT OF SUBSIDIES .—Of the 1
amount of a capitalization grant received by an eligi-2
ble coastal state for any fiscal year, the total amount 3
of loan subsidies made by such eligible coastal state 4
pursuant to paragraph (1)— 5
‘‘(A) may not exceed 35 percent; and 6
‘‘(B) to the extent that there are, as deter-7
mined by the Secretary, sufficient applications 8
from disadvantaged communities for loans, may 9
not be less than 12 percent. 10
‘‘(e) E
LIGIBLECOASTALSTATECONTRIBUTION.— 11
Each capitalization agreement entered into under sub-12
section (a)(1) shall require that the eligible coastal state 13
subject to such agreement deposit in the working water-14
fronts preservation loan fund of the eligible coastal state 15
an amount equal to not less than 20 percent of the total 16
amount of the capitalization grant to be made to the eligi-17
ble coastal state on or before the date on which the capital-18
ization grant payment is made to the eligible coastal state. 19
‘‘(f) T
YPES OFASSISTANCE.—The amounts depos-20
ited into a working waterfronts preservation loan fund of 21
an eligible coastal state under this section may be used 22
by the eligible coastal state— 23
‘‘(1) to make a loan to a covered entity, on the 24
condition that— 25
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‘‘(A) the interest rate for the loan does not 1
exceed the market rate; 2
‘‘(B) principal and interest payments on 3
the loan will commence not later than 18 4
months after completion of the project for 5
which the loan was made; 6
‘‘(C) the loan will be fully amortized not 7
later than 30 years after the completion of the 8
project, except that in the case of a disadvan-9
taged community an eligible coastal state may 10
provide an extended term for the loan, if the ex-11
tended term— 12
‘‘(i) terminates not later than the date 13
that is 40 years after the completion of the 14
project; and 15
‘‘(ii) does not exceed the expected de-16
sign life of the project; 17
‘‘(D) the recipient of the loan will establish 18
a dedicated source of revenue (or, in the case 19
of a privately owned working waterfront prop-20
erty, demonstrate that there is adequate secu-21
rity) for the repayment of the loan; and 22
‘‘(E) the working waterfronts preservation 23
loan fund of the eligible coastal state will be 24
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credited with all payments of principal and in-1
terest on the loan; 2
‘‘(2) to buy or refinance the debt obligation of 3
a municipality or an intermunicipal or interstate 4
agency within the eligible coastal state at an interest 5
rate that is less than or equal to the market interest 6
rate; 7
‘‘(3) to guarantee, or purchase insurance for, a 8
local obligation (all of the proceeds of which finance 9
a project eligible for financial assistance under this 10
section) if the guarantee or purchase would improve 11
credit market access or reduce the interest rate ap-12
plicable to the obligation; 13
‘‘(4) as a source of revenue or security for the 14
payment of principal and interest on a revenue or 15
general obligation bond issued by the eligible coastal 16
state if the proceeds of the sale of the bond will be 17
deposited into the working waterfronts preservation 18
loan fund of the eligible coastal state; or 19
‘‘(5) to earn interest on the amounts deposited 20
into the working waterfronts preservation loan fund 21
of the eligible coastal state. 22
‘‘(g) A
DMINISTRATION OF WORKINGWATERFRONTS 23
P
RESERVATIONLOANFUNDS.— 24
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‘‘(1) COMBINED FINANCIAL ADMINISTRATION .— 1
Notwithstanding subsection (c), an eligible coastal 2
state may combine the financial administration of a 3
working waterfronts preservation loan fund of the el-4
igible coastal state with the financial administration 5
of any other revolving fund established by the eligi-6
ble coastal state if the Secretary determines that the 7
capitalization grants made under this section, to-8
gether with loan repayments and interest, will be 9
separately accounted for and used solely for the pur-10
poses specified in subsection (a). 11
‘‘(2) C
OST OF ADMINISTERING WORKING WA -12
TERFRONTS PRESERVATION LOAN FUND .— 13
‘‘(A) I
N GENERAL.—For each fiscal year, 14
an eligible coastal state may use the amount de-15
scribed in subparagraph (B)— 16
‘‘(i) to cover the reasonable costs of 17
administration of the programs under this 18
section, including the recovery of reason-19
able costs expended to establish a working 20
waterfronts preservation loan fund that are 21
incurred after the date of the enactment of 22
this section; and 23
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‘‘(ii) to provide technical assistance to 1
working waterfronts projects carried out 2
within the eligible coastal state. 3
‘‘(B) D
ESCRIPTION OF AMOUNT .—The 4
amount referred to in subparagraph (A) is an 5
amount equal to the sum of— 6
‘‘(i) the amount of any fees collected 7
by the eligible coastal state for use in ac-8
cordance with subparagraph (A)(i), regard-9
less of the source; and 10
‘‘(ii) the greater of— 11
‘‘(I) $400,000; 12
‘‘(II) 0.2 percent of the current 13
valuation of the working waterfronts 14
preservation loan fund of the eligible 15
coastal state; or 16
‘‘(III) an amount equal to 4 per-17
cent of all grant awards made to the 18
working waterfronts preservation loan 19
fund of the eligible coastal state under 20
this section for the fiscal year. 21
‘‘(h) A
UTHORIZATION OF APPROPRIATIONS.—There 22
is authorized to be appropriated to the Secretary to carry 23
out this section $50,000,000 for each of fiscal years 2025 24
through 2029. 25
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‘‘(i) DEFINITIONS.—In this section: 1
‘‘(1) A
PPROVED WORKING WATERFRONTS 2
PLAN.—The term ‘approved working waterfronts 3
plan’ has the meaning given the term in section 4
306B. 5
‘‘(2) C
OVERED ENTITY.—The term ‘covered en-6
tity’ means— 7
‘‘(A) a State agency; 8
‘‘(B) an Indian Tribe; 9
‘‘(C) a Native Hawaiian organization; 10
‘‘(D) a local government; or 11
‘‘(E) a nonprofit organization. 12
‘‘(3) D
ISADVANTAGED COMMUNITY .—The term 13
‘disadvantaged community’ has the meaning given 14
the term in section 306B. 15
‘‘(4) E
LIGIBLE COASTAL STATE.—The term ‘eli-16
gible coastal state’ means a coastal state that has an 17
approved working waterfronts plan. 18
‘‘(5) W
ORKING WATERFRONT .—The term 19
‘working waterfront’ has the meaning given the term 20
in section 306B. 21
‘‘(6) W
ORKING WATERFRONTS PRESERVATION 22
LOAN FUND.—The term ‘working waterfronts pres-23
ervation loan fund’ means a revolving loan fund es-24
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tablished under this section for the preservation of 1
working waterfronts.’’. 2
Æ
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