Shipbuilding Investment and Workforce Act designates maritime prosperity zones 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. These zones must be population census tracts determined by the Secretary of Commerce to be appropriate for maritime industry operations. The bill limits the number of such zones to 100 and excludes certain industries from being considered maritime industries unless they support shipyards, ports, harbor facilities, or vessels. The Secretary of Commerce must begin the nomination and notification process by July 1, 2027.
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