Allows maritime prosperity zones to be designated as qualified opportunity zones.
The Shipbuilding Investment and Workforce Act amends the Internal Revenue Code to allow maritime prosperity zones to be designated as qualified opportunity zones. This means that property and businesses in these zones can benefit from tax incentives if they are related to the maritime industry. The Secretary of Commerce must nominate and notify these zones, and the Secretary of the Treasury must certify them. The bill also defines "maritime industry" and "maritime prosperity zone" and limits the number of such zones to 100. The changes take effect after December 31, 2026.
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