Provides a tax credit for working waterfront disaster mitigation projects in Maine.
This bill provides a tax credit for taxpayers who undertake working waterfront disaster mitigation projects. These projects include elevation of foundation walls, flood risk protection, shoreline stabilization, and warning systems. The credit is equal to 30% of the cost of the project, up to a maximum of $300,000. Businesses with average annual gross receipts of $47,000,000 or less qualify. The credit can be carried forward if unused, and an inflation adjustment applies starting in 2026.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.