Sponsors (20)
The bill directs substantial federal grants and financing to preserve and climate-adapt working waterfronts and expand public access, but it requires new federal spending and imposes rules and covenants that may raise costs, limit participation by small or disadvantaged sponsors, and restrict some private property uses.
Coastal states, tribes, and local governments can get federal grants (up to a 75% federal share) to acquire, improve, and climate-adapt working waterfronts, enabling preservation and resilience projects for coastal communities.
State and local governments and small waterfront project sponsors will have increased, long-term financing options through revolving loan funds capitalized at $50M/year, expanding available capital for preservation, loans, bond security, and guarantees.
Federal agencies and subnational governments will benefit from a new multi-agency Task Force to coordinate priorities and assign federal responsibilities, improving federal coordination on threats like sea level rise and harmful algal blooms.
Taxpayers face new federal spending obligations of roughly $100M per year (grants plus loan fund capitalization) for FY2025–2029, which could require budget tradeoffs or increase federal outlays.
Small businesses, local governments, and rural or low-capacity sponsors may be excluded or face higher costs because federal rules (Davis‑Bacon, matching requirements, technical capacity limits) increase project costs or require waivers to participate.
Homeowners and private waterfront owners may have restricted property rights because grant covenants and automatic reversion remedies require recordable restrictions and can limit owners' options if covenants are violated.
Based on analysis of 2 sections of legislative text.
Introduced March 3, 2025 by Chellie Pingree · Last progress March 3, 2025
Creates a federal program to help coastal states, Tribes, Native Hawaiian organizations, and local partners protect and improve "working waterfronts"—lands and facilities that support fishing, boating, aquaculture, boatbuilding, and other water-dependent businesses. It sets up a Task Force, a process for approved waterfront plans, a competitive grant program with matching and public-access rules, and a loan-capitalization program for state revolving loan funds. The bill authorizes $50 million per year for fiscal years 2025–2029 for grants and loan capitalization, and requires reporting and administrative rules to ensure projects support community, economic, and environmental resilience. The program focuses on planning, competitive grants, and loans to preserve public access and support maritime economies while encouraging projects that strengthen coastal communities and their environment. Applicants must meet certain matching and covenant requirements and follow federal reporting and oversight provisions.