I 
118TH CONGRESS 
1ST SESSION H. R. 6641 
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 
DECEMBER 6, 2023 
Ms. PINGREE (for herself, Mr. WITTMAN, Mr. HUFFMAN, Mr. KILMER, Mr. 
PALLONE, Mr. KEATING, Mr. GOLDEN of Maine, Mr. MOYLAN, and Ms. 
HOYLE of Oregon) introduced the following 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-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Keep America’s Water-
fronts Working Act’’. 
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SEC. 2. WORKING WATERFRONTS. 
The Coastal Zone Management Act of 1972 (16 
U.S.C. 1451 et seq.) is amended by inserting after section 
306A (16 U.S.C. 1455a) the following: 
‘‘SEC. 306B. WORKING WATERFRONTS. 
‘‘(a) TASK FORCE.— 
‘‘(1) IN GENERAL.—The Secretary shall estab-
lish a task force to work directly with covered enti-
ties, users of working waterfronts, and coastal stake-
holders to identify and address critical needs with 
respect to working waterfronts. 
‘‘(2) MEMBERSHIP.—The Secretary shall ap-
point members of the Task Force, and shall in-
clude— 
‘‘(A) experts in the unique economic, so-
cial, cultural, ecological, geographic, and re-
source concerns of working waterfronts; and 
‘‘(B) representatives from— 
‘‘(i) the Office of Coastal Management 
of the National Oceanic and Atmospheric 
Administration; 
‘‘(ii) the United States Fish and Wild-
life Service; 
‘‘(iii) the Department of Agriculture; 
‘‘(iv) the Environmental Protection 
Agency; 
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‘‘(v) the United States Geological Sur-
vey; 
‘‘(vi) the Department of the Navy; 
‘‘(vii) the National Marine Fisheries 
Service; 
‘‘(viii) the Economic Development Ad-
ministration; 
‘‘(ix) such other Federal agencies as 
the Secretary determines appropriate; 
‘‘(x) Indian Tribes; and 
‘‘(xi) Native Hawaiian organizations. 
‘‘(3) FUNCTIONS.—The Task Force shall— 
‘‘(A) identify and prioritize critical needs 
with respect to working waterfronts in coastal 
states that have a management program ap-
proved under section 306, in the areas of— 
‘‘(i) economic and cultural importance 
of such working waterfronts to commu-
nities; 
‘‘(ii) 
changing 
circumstances 
and 
threats such working waterfronts face from 
trade barriers and environmental changes, 
including sea level rise, extreme weather 
events, ocean acidification, and harmful 
algal blooms; and 
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‘‘(iii) identifying such working water-
fronts and highlighting them within com-
munities; 
‘‘(B) outline options, in consultation with 
coastal states and coastal stakeholders, to ad-
dress each critical need identified under sub-
paragraph (A), including adaptation and miti-
gation options where applicable; 
‘‘(C) identify which Federal agency is re-
sponsible for addressing each critical need iden-
tified under subparagraph (A); and 
‘‘(D) recommend which Federal agency is 
best suited to address each critical need identi-
fied under subparagraph (A) for which no re-
sponsible Federal agency is identified under 
subparagraph (C). 
‘‘(4) REPORT.—Not later than 18 months after 
the date of the enactment of this section, the Task 
Force shall submit to Congress a report regarding 
the findings of the Task Force under this sub-
section. 
‘‘(5) IMPLEMENTATION.—Not later than 30 
months after the date of the enactment of this sec-
tion, the head of each Federal agency identified 
under paragraph (3)(C) shall, to the extent prac-
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ticable and subject to the availability of appropria-
tions, implement the options outlined under para-
graph (3)(B). 
‘‘(b) WORKING WATERFRONTS PLAN.— 
‘‘(1) IN GENERAL.—A covered entity may sub-
mit to the Secretary a working waterfronts plan for 
approval under this subsection, which, as applicable 
and with respect to the covered entity— 
‘‘(A) shall— 
‘‘(i) provide for the preservation and 
expansion of access to coastal waters by 
coastal users; 
‘‘(ii) be complementary to and incor-
porate the policies, objectives, and regula-
tions of regional and local working water-
fronts plans or strategies in effect before 
the date of the enactment of this section; 
‘‘(iii) be developed through a process 
that— 
‘‘(I) ensures the involvement of 
coastal stakeholders; and 
‘‘(II) is consistent with other 
coastal management programs, regu-
lations, and activities of the covered 
entity; 
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‘‘(iv) designate each qualified holder 
of the covered entity, if any; 
‘‘(v) if the covered entity designates a 
qualified holder under clause (iv)— 
‘‘(I) ensure that such qualified 
holder complies with the duty of a 
qualified holder to enforce each work-
ing waterfront covenant to which the 
qualified holder is a party; and 
‘‘(II) certify that the covered en-
tity retains the responsibility to en-
sure that each affected working water-
front is managed in a manner that is 
consistent with the working water-
fronts plan of the covered entity; and 
‘‘(vi) include— 
‘‘(I) an assessment of the eco-
nomic, social, cultural, and historical 
value of working waterfronts; 
‘‘(II) a description of any rel-
evant non-Federal laws and regula-
tions that affect working waterfronts 
in the geographic areas identified 
under subclauses (III) and (IV); 
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‘‘(III) an identification of geo-
graphic areas where working water-
fronts are, as of the date of the enact-
ment of this subsection, under threat 
of conversion to uses incompatible 
with commercial and recreational fish-
ing, recreational fishing and boating 
businesses, aquaculture, boatbuilding, 
or other water-dependent, coastal-re-
lated business, and the level of that 
threat; 
‘‘(IV) an identification of geo-
graphic areas with a historical connec-
tion to working waterfronts where 
working waterfronts are not, as of the 
date of the enactment of this section, 
available, and, where appropriate, an 
assessment of the environmental im-
pacts of any expansion or new devel-
opment of working waterfronts on the 
coastal ecosystems of such geographic 
areas; 
‘‘(V) an identification of addi-
tional working waterfronts needs, in-
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cluding 
improvements 
to 
existing 
working waterfronts; 
‘‘(VI) a strategic and prioritized 
plan for the preservation, expansion, 
and improvement of each relevant 
working waterfront; 
‘‘(VII) for geographic areas iden-
tified under subclauses (III) and (IV), 
an identification of the current avail-
ability and potential for expansion of 
public access to coastal waters in such 
geographic areas; 
‘‘(VIII) a description of the de-
gree of community support for the 
plan included under subclause (VI); 
and 
‘‘(IX) a contingency plan for any 
property that reverts to the covered 
entity pursuant to a determination 
made by the covered entity under sub-
section (c)(11)(B); and 
‘‘(B) may— 
‘‘(i) be developed using existing infor-
mation contained in relevant surveys, 
plans, or other documents to fulfill the in-
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formation requirements under this para-
graph; 
‘‘(ii) include a vulnerability assess-
ment, hazards resilience plan, or identifica-
tion of waterfront properties exposed to 
sea level rise or inundation; and 
‘‘(iii) be part of a management pro-
gram approved under section 306. 
‘‘(2) DURATION OF APPROVAL.— 
‘‘(A) IN GENERAL.—A working waterfronts 
plan approved by the Secretary under this sub-
section shall be effective during the 5-year pe-
riod beginning on the date of such approval. 
‘‘(B) MAINTENANCE
OF
APPROVAL.—An 
eligible covered entity that participates in the 
grant program on the basis of an approved 
working waterfronts plan of that eligible cov-
ered entity shall resubmit such working water-
fronts plan for approval by the Secretary before 
the end of each 5-year period described in sub-
paragraph (A). 
‘‘(c) WORKING WATERFRONTS GRANT PROGRAM.— 
‘‘(1) IN GENERAL.—The Secretary shall, in con-
sultation with covered entities, Federal agencies the 
Secretary determines appropriate, and interested 
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coastal stakeholders with expertise in working water-
fronts planning, establish a regionally equitable and 
competitive grant program, to be known as the 
‘Working Waterfronts Grant Program’. 
‘‘(2) USES.—The Secretary may award grants 
under this subsection to eligible covered entities— 
‘‘(A) to implement or revise an approved 
working waterfronts plan of such eligible cov-
ered entity, including— 
‘‘(i) acquiring a working waterfront or 
an interest in a working waterfront; 
‘‘(ii) making improvements to a work-
ing waterfront, including constructing or 
repairing wharfs, boat ramps, or related 
facilities; or 
‘‘(iii) carrying out necessary climate 
adaptation mitigation activities for a work-
ing waterfront; or 
‘‘(B) to develop a working waterfronts plan 
of such eligible covered entity under subsection 
(b). 
‘‘(3) APPLICATION.— 
‘‘(A) IN GENERAL.—To be eligible for a 
grant under this subsection, an eligible covered 
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entity shall submit an application to the Sec-
retary— 
‘‘(i) that, if applicable, is consistent 
with the management program of the eligi-
ble covered entity approved under section 
306; and 
‘‘(ii) in such form, at such time, and 
containing such information as the Sec-
retary determines appropriate. 
‘‘(B) DEADLINE.—Not later than 60 days 
after the date on which the Secretary receives 
an application for a grant under this para-
graph, the Secretary shall approve or reject 
such application. 
‘‘(4) GUIDELINES.—The Secretary shall, in 
consultation with the entities described in paragraph 
(1), issue guidelines regarding the implementation of 
the grant program. 
‘‘(5) CRITERIA.—In awarding a grant to an eli-
gible covered entity, the Secretary shall take into ac-
count the following criteria: 
‘‘(A) The economic, cultural, and historical 
significance of working waterfronts to the eligi-
ble covered entity. 
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‘‘(vii) to collect and disseminate best 
practices regarding working waterfronts 
and resilience planning. 
‘‘(B) LIMITATION.—The Secretary may 
use not more than 5 percent of the amounts 
made available under this subsection in each 
fiscal year to provide technical assistance under 
this paragraph. 
‘‘(7) 
PUBLIC
ACCESS
REQUIREMENT.—A 
project carried out with a grant awarded under this 
subsection, other than a project that involves com-
mercial fishing or other industrial access points to 
which the eligible covered entity determines public 
access would be unsafe, shall provide for the expan-
sion, improvement, or preservation of reasonable and 
appropriate public access to coastal waters at or in 
the vicinity of working waterfronts. 
‘‘(8) LIMITATION ON ACQUISITION.—An eligible 
covered entity that is awarded a grant under this 
subsection, or any entity to which such eligible cov-
ered entity allocates a portion of such grant under 
paragraph (9), may use such grant award to acquire 
title to or an interest in a working waterfront, in-
cluding an easement, only— 
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‘‘(A) for fair market value from a willing 
seller; or 
‘‘(B) for less than fair market value from 
a seller that certifies to the Secretary that the 
seller is willing and is not subject to coercion. 
‘‘(9) ALLOCATION.— 
‘‘(A) IN GENERAL.—An eligible covered en-
tity that is awarded a grant under this sub-
section may allocate a portion of such grant 
award to a unit of State or local government, 
a nonprofit organization, a fishing cooperative, 
or any other appropriate entity for the purpose 
of carrying out this subsection if such eligible 
covered entity ensures that any such allocated 
grant award is used consistently with this sub-
section. 
‘‘(B) 
IDENTIFIED
WORKING
WATER-
FRONTS.—The Secretary shall encourage each 
eligible covered entity that is awarded a grant 
under this subsection to equitably allocate such 
grant award among working waterfronts identi-
fied in the approved working waterfronts plan 
of each such eligible covered entity, if any. 
‘‘(10) MATCHING REQUIREMENT.— 
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‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), the Federal share of a 
project carried out with a grant awarded under 
this subsection may not exceed 75 percent. 
‘‘(B) WAIVER
OF
MATCHING
REQUIRE-
MENT.—The Secretary may waive the applica-
tion of subparagraph (A)— 
‘‘(i) with respect to an eligible covered 
entity that is awarded a grant under this 
subsection that has designated a qualified 
holder that is located within— 
‘‘(I) a disadvantaged community; 
or 
‘‘(II) a community that has an 
inability to draw on other sources of 
funding because of the small popu-
lation or low income of the commu-
nity; or 
‘‘(ii) for any other reason the Sec-
retary determines appropriate. 
‘‘(C) NON-FEDERAL
SHARE.—An eligible 
covered entity that is awarded a grant under 
this subsection may satisfy the non-Federal 
share of a project carried out with a grant 
awarded under this subsection through in-kind 
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contributions and other noncash support, in-
cluding the following: 
‘‘(i) The value, as determined by an 
appraisal performed at such time before 
the award of the grant as the Secretary de-
termines appropriate, of a working water-
front or an interest in a working water-
front, including conservation and other 
easements, that is held in perpetuity by a 
qualified holder, if the working waterfront 
or interest in a working waterfront— 
‘‘(I) is identified in the grant ap-
plication; and 
‘‘(II) is acquired by the qualified 
holder not later than 3 years after— 
‘‘(aa) the grant award date; 
or 
‘‘(bb) the date of the sub-
mission of such application and 
before the end of the initial 5- 
year period for which the ap-
proved working waterfronts plan 
associated with the grant applica-
tion, if any, is effective. 
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‘‘(ii) The costs, including cash or in- 
kind contributions, associated with the ac-
quisition, restoration, or enhancement of or 
making other improvements to a working 
waterfront or an interest in a working wa-
terfront, if— 
‘‘(I) such costs are identified in 
the grant application; and 
‘‘(II) the costs are incurred— 
‘‘(aa) before the end of the 
initial 5-year period for which the 
approved 
working 
waterfronts 
plan associated with the grant 
application, if any, is effective; or 
‘‘(bb) for working water-
fronts described in clause (i), 
within the time limits described 
in that clause. 
‘‘(11) WORKING WATERFRONT COVENANTS.— 
‘‘(A) IN GENERAL.—An eligible covered en-
tity that is awarded a grant under this sub-
section may use such grant award with respect 
to a working waterfront only for which each 
person other than the eligible covered entity 
that holds title to or an interest in such work-
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ing waterfront enters into a working waterfront 
covenant. 
‘‘(B) VIOLATION.— 
‘‘(i) IN GENERAL.—An eligible covered 
entity may determine, on the record after 
an opportunity for a hearing, that a work-
ing waterfront covenant of the eligible cov-
ered entity has been violated. 
‘‘(ii) 
REVERSION; 
CONVEYANCE; 
RIGHT OF IMMEDIATE ENTRY.—If an eligi-
ble covered entity makes a determination 
under clause (i) that a violation described 
under that clause has occurred— 
‘‘(I) all right, title, and interest 
in and to the working waterfront cov-
ered by the violated working water-
front covenant shall revert to the eligi-
ble covered entity; 
‘‘(II) the eligible covered entity 
may convey the working waterfront or 
interest in the working waterfront to 
a qualified holder; and 
‘‘(III) the eligible covered entity 
shall have the right of immediate 
entry onto the working waterfront 
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covered by the violated working water-
front covenant. 
‘‘(12) TERMS AND CONDITIONS.—The Secretary 
shall subject each grant awarded under this sub-
section to such terms and conditions as the Sec-
retary determines appropriate to ensure that each 
such grant is used for purposes consistent with this 
section. 
‘‘(13) REPORT.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
biennially submit to Congress a report regard-
ing the implementation of this subsection, 
which shall include— 
‘‘(i) an evaluation, based on perform-
ance measures developed by the Secretary, 
of the effectiveness of the grant program 
in accomplishing the purposes of this sub-
section; 
‘‘(ii) an account of all expenditures 
under this subsection; and 
‘‘(iii) descriptions of each project car-
ried out using a grant awarded under this 
section. 
‘‘(B) ALTERNATIVE MANNER OF SUBMIS-
SION.—The Secretary may submit each report 
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required under subparagraph (A) by including 
the information required under that subpara-
graph in each report required under section 
316. 
‘‘(14) ADMINISTRATIVE EXPENSES.—The Sec-
retary may use not more than 5 percent of the 
amounts made available under this subsection in 
each fiscal year to pay the administrative expenses 
necessary to carry out this subsection. 
‘‘(15) AUTHORIZATION OF APPROPRIATIONS.— 
There is authorized to be appropriated to the Sec-
retary to carry out this subsection $50,000,000 for 
each of fiscal years 2024 through 2028. 
‘‘(d) DEFINITIONS.—In this section: 
‘‘(1) 
APPROVED
WORKING
WATERFRONTS 
PLAN.—The term ‘approved working waterfronts 
plan’ means a working waterfronts plan that is ap-
proved by the Secretary under subsection (b). 
‘‘(2) 
COASTAL
INDIAN
TRIBE.—The 
term 
‘coastal Indian Tribe’ means an Indian Tribe with 
respect to which land owned by the Indian Tribe, 
held in trust by the United States for the Indian 
Tribe, or held by the Indian Tribe and subject to re-
strictions on alienation imposed by the United 
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States or the reservation of the Indian Tribe is lo-
cated within a coastal state. 
‘‘(3) COASTAL
USERS.—The term ‘coastal 
users’ means— 
‘‘(A) persons that engage in commercial or 
recreational fishing; 
‘‘(B) recreational fishing and boating busi-
nesses; and 
‘‘(C) boatbuilding, aquaculture, and other 
water-dependent, coastal-related businesses. 
‘‘(4) COVERED ENTITY.—The term ‘covered en-
tity’ means— 
‘‘(A) a coastal state; 
‘‘(B) a coastal Indian Tribe; or 
‘‘(C) a Native Hawaiian organization. 
‘‘(5) ELIGIBLE
COVERED
ENTITY.—The term 
‘eligible covered entity’ means a covered entity 
that— 
‘‘(A) has an approved working waterfronts 
plan; 
‘‘(B) is in the process of developing a 
working waterfronts plan for approval under 
subsection (b); or 
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‘‘(C) has a coastal land use plan that the 
Secretary determines is sufficient for the pur-
poses of this section. 
‘‘(6) GRANT PROGRAM.—The term ‘grant pro-
gram’ means the grant program established under 
subsection (c). 
‘‘(7) INDIAN TRIBE.—The term ‘Indian Tribe’ 
has the meaning given the term in section 4 of the 
Indian Self-Determination and Education Assistance 
Act (25 U.S.C. 5304). 
‘‘(8) NATIVE
HAWAIIAN
ORGANIZATION.—The 
term ‘Native Hawaiian organization’ means a non-
profit organization— 
‘‘(A) that serves the interests of Native 
Hawaiians; 
‘‘(B) in which Native Hawaiians serve in 
substantive and policymaking positions; 
‘‘(C) that is recognized for having expertise 
in Native Hawaiian culture and heritage, in-
cluding tourism; and 
‘‘(D) is located within a coastal state. 
‘‘(9) QUALIFIED HOLDER.—The term ‘qualified 
holder’ means— 
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‘‘(A) a unit of local government of a cov-
ered entity, if the covered entity is a coastal 
state; or 
‘‘(B) a nonprofit organization; 
that is designated by a covered entity in the ap-
proved working waterfronts plan of the covered enti-
ty to carry out some or all of the functions of the 
covered entity under the grant program if the cov-
ered entity applies for and is awarded a grant under 
the grant program, including holding title to or an 
interest in a working waterfront acquired with a 
grant awarded under the grant program. 
‘‘(10) TASK FORCE.—The term ‘Task Force’ 
means the task force established under subsection 
(a)(1). 
‘‘(11) 
DISADVANTAGED
COMMUNITY.—The 
term ‘disadvantaged community’ means a commu-
nity the Secretary determines, based on appropriate 
data, indices, and screening tools, is economically, 
socially, or environmentally disadvantaged. 
‘‘(12) 
WORKING
WATERFRONT.—The 
term 
‘working waterfront’ means real property (including 
support structures over water and other facilities) 
that— 
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‘‘(A) provides access to coastal waters by 
coastal users; and 
‘‘(B) is used for, or supports, commercial 
and recreational fishing, recreational fishing 
and boating businesses, and boatbuilding, aqua-
culture, and other water-dependent, coastal-re-
lated business. 
‘‘(13) WORKING
WATERFRONT
COVENANT.— 
The term ‘working waterfront covenant’ means an 
agreement in recordable form entered into between 
a person that holds title to or an interest in a work-
ing waterfront and a covered entity that is awarded 
a grant under the grant program or a qualified hold-
er of such covered entity that provides such assur-
ances as the Secretary determines necessary to en-
sure the following: 
‘‘(A) Except as provided in subparagraph 
(C), the title to or interest in the working wa-
terfront will be held by an entity that is subject 
to such agreement in perpetuity. 
‘‘(B) The working waterfront will be man-
aged in a manner that is consistent with the 
purposes of this section, and the working water-
front will not be converted to any use that is in-
consistent with this section. 
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‘‘(C) If the title to or interest in the work-
ing waterfront is subsequently sold or otherwise 
exchanged— 
‘‘(i) each party involved in such sale 
or exchange shall accede to such agree-
ment; and 
‘‘(ii) funds equal to the fair market 
value of the title to or interest in the work-
ing waterfront shall be paid to the Sec-
retary by the parties to the sale or ex-
change, and such funds shall be, at the 
discretion of the Secretary, paid to the rel-
evant covered entity or a qualified holder 
of such covered entity for use in the imple-
mentation of the approved working water-
fronts plan of the covered entity. 
‘‘(D) Such agreement shall be subject to 
enforcement and oversight by the covered entity 
or by another person as the Secretary deter-
mines appropriate. 
‘‘SEC. 
306C. 
WORKING 
WATERFRONTS 
PRESERVATION 
LOAN FUND. 
‘‘(a) GENERAL AUTHORITY.— 
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‘‘(1) GRANTS TO ELIGIBLE COASTAL STATES TO 
ESTABLISH WORKING WATERFRONTS PRESERVATION 
LOAN FUNDS.— 
‘‘(A) IN
GENERAL.—The Secretary may 
enter into an agreement with an eligible coastal 
state to issue a capitalization grant, including a 
letter of credit, to such eligible coastal state to 
implement the approved working waterfronts 
plan of such eligible coastal state. 
‘‘(B) ESTABLISHMENT
OF
WORKING
WA-
TERFRONTS PRESERVATION LOAN FUNDS.— 
‘‘(i) IN GENERAL.—To be eligible to 
receive a capitalization grant under this 
subsection, an eligible coastal state shall 
establish a working waterfronts preserva-
tion loan fund. 
‘‘(ii) DEPOSIT.—Each capitalization 
grant made to an eligible coastal state 
under this paragraph shall be deposited in 
the working waterfronts preservation loan 
fund of such eligible coastal state. 
‘‘(C) EXTENDED
PERIOD.—A capitaliza-
tion grant made to an eligible coastal state 
under this section shall be available to the eligi-
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ble coastal state for obligation for a period of 
2 fiscal years. 
‘‘(2) USE OF FUNDS.— 
‘‘(A) IN
GENERAL.—An eligible coastal 
state shall use amounts deposited in the work-
ing waterfronts preservation loan fund of such 
eligible coastal state, including loan repayments 
and interest earned on such amounts, to pro-
vide financial assistance described in subsection 
(f) to a covered entity to implement the ap-
proved working waterfronts plan of such eligible 
coastal state through preservation, improve-
ment, restoration, rehabilitation, and acquisi-
tion of working waterfronts pursuant to criteria 
established by the Secretary. 
‘‘(B) SALE OF BONDS.—A covered entity 
may use amounts received under this section as 
a source of revenue (restricted solely to interest 
earnings of the applicable working waterfronts 
preservation loan fund) or security for payment 
of the principal and interest on a revenue or 
general obligation bond issued by the eligible 
coastal state to provide matching funds under 
subsection (e) if the proceeds of the sale of the 
bond will be deposited in the working water-
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fronts preservation loan fund of such eligible 
coastal state. 
‘‘(C) NO
INCREASED
BONDING
AUTHOR-
ITY.—Amounts deposited in the working water-
fronts preservation loan fund of an eligible 
coastal state may not be used as a source of 
payment of, or security for (directly or indi-
rectly), in whole or in part, any obligation the 
interest on which is exempt from the tax im-
posed under chapter 1 of the Internal Revenue 
Code of 1986. 
‘‘(3) LIMITATION.—An eligible coastal state 
may not provide financial assistance described in 
subsection (f) to a covered entity that does not have 
the technical, managerial, and financial capability to 
ensure compliance with the requirements of this sec-
tion. 
‘‘(4) PREVAILING WAGES.—The Secretary shall 
ensure compliance with the provisions of the Act of 
March 3, 1931 (40 U.S.C. 3141 et seq.; commonly 
known as the ‘Davis-Bacon Act’) with respect to any 
construction project carried out in whole or in part 
with financial assistance made available from a 
working waterfronts preservation loan fund. 
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‘‘(5) RESERVATION.—Each eligible coastal state 
that enters into a capitalization agreement under 
paragraph (1) shall, each fiscal year, reserve 0.2 
percent of the amount in the working waterfronts 
preservation loan fund of the eligible coastal state to 
provide financial assistance described in subsection 
(f) to an Indian Tribe or a Native Hawaiian organi-
zation. 
‘‘(b) INTENDED USE PLANS.— 
‘‘(1) IN GENERAL.—Each eligible coastal state 
that enters into a capitalization agreement under 
subsection (a)(1) shall annually prepare an intended 
use plan, subject to notice and an opportunity for 
public comment, that identifies the intended uses of 
the amounts available to the working waterfronts 
preservation loan fund of the eligible coastal state. 
‘‘(2) CONTENTS.—Each intended use plan pre-
pared by an eligible coastal state under paragraph 
(1) shall include, with respect to the eligible coastal 
state— 
‘‘(A) a list of each project to be assisted 
with amounts from the working waterfronts 
preservation loan fund in the first fiscal year 
that begins after the date such intended use 
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plan is finalized, including, with respect to each 
such project— 
‘‘(i) a description of the project; 
‘‘(ii) the expected terms of financial 
assistance; and 
‘‘(iii) the size of the community 
served; 
‘‘(B) the criteria and methods established 
to distribute amounts from the working water-
fronts preservation loan fund; and 
‘‘(C) a description of the financial status of 
the working waterfronts preservation loan fund 
and the short- and long-term goals of such 
working waterfronts preservation loan fund. 
‘‘(c) WORKING WATERFRONTS PRESERVATION LOAN 
FUND MANAGEMENT.— 
‘‘(1) IN GENERAL.—Each working waterfronts 
preservation loan fund under this section shall be es-
tablished, maintained, and credited with repayments 
and interest and the fund corpus shall be available 
in perpetuity to provide financial assistance de-
scribed in subsection (f) to covered entities under 
this section. 
‘‘(2) EXTRA AMOUNTS.—To the extent amounts 
in a working waterfronts preservation loan fund are 
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not required for obligation or expenditure, such 
amounts shall be invested in interest-bearing obliga-
tions. 
‘‘(d) ASSISTANCE
FOR DISADVANTAGED COMMU-
NITIES.— 
‘‘(1) LOAN SUBSIDY.— 
‘‘(A) IN GENERAL.—Notwithstanding any 
other provision of this section, if an eligible 
coastal state makes a loan to a disadvantaged 
community pursuant to subsection (a)(2), the 
eligible coastal state may provide additional 
subsidization to such disadvantaged community, 
including— 
‘‘(i) forgiveness of principal; 
‘‘(ii) grants; 
‘‘(iii) negative interest loans; 
‘‘(iv) other loan forgiveness; and 
‘‘(v) through buying, refinancing, or 
restructuring debt. 
‘‘(B) EXCLUSION.—A loan from a working 
waterfronts preservation loan fund with an in-
terest rate equal to or greater than 0 percent 
shall not be considered additional subsidization 
for the purposes of this subsection. 
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credited with all payments of principal and in-
terest on the loan; 
‘‘(2) to buy or refinance the debt obligation of 
a municipality or an intermunicipal or interstate 
agency within the eligible coastal state at an interest 
rate that is less than or equal to the market interest 
rate; 
‘‘(3) to guarantee, or purchase insurance for, a 
local obligation (all of the proceeds of which finance 
a project eligible for financial assistance under this 
section) if the guarantee or purchase would improve 
credit market access or reduce the interest rate ap-
plicable to the obligation; 
‘‘(4) as a source of revenue or security for the 
payment of principal and interest on a revenue or 
general obligation bond issued by the eligible coastal 
state if the proceeds of the sale of the bond will be 
deposited into the working waterfronts preservation 
loan fund of the eligible coastal state; or 
‘‘(5) to earn interest on the amounts deposited 
into the working waterfronts preservation loan fund 
of the eligible coastal state. 
‘‘(g) ADMINISTRATION OF WORKING WATERFRONTS 
PRESERVATION LOAN FUNDS.— 
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‘‘(1) COMBINED FINANCIAL ADMINISTRATION.— 
Notwithstanding subsection (c), an eligible coastal 
state may combine the financial administration of a 
working waterfronts preservation loan fund of the el-
igible coastal state with the financial administration 
of any other revolving fund established by the eligi-
ble coastal state if the Secretary determines that the 
capitalization grants made under this section, to-
gether with loan repayments and interest, will be 
separately accounted for and used solely for the pur-
poses specified in subsection (a). 
‘‘(2) COST OF ADMINISTERING WORKING WA-
TERFRONTS PRESERVATION LOAN FUND.— 
‘‘(A) IN GENERAL.—For each fiscal year, 
an eligible coastal state may use the amount de-
scribed in subparagraph (B)— 
‘‘(i) to cover the reasonable costs of 
administration of the programs under this 
section, including the recovery of reason-
able costs expended to establish a working 
waterfronts preservation loan fund that are 
incurred after the date of the enactment of 
this section; and 
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‘‘(ii) to provide technical assistance to 
working waterfronts projects carried out 
within the eligible coastal state. 
‘‘(B) DESCRIPTION
OF
AMOUNT.—The 
amount referred to in subparagraph (A) is an 
amount equal to the sum of— 
‘‘(i) the amount of any fees collected 
by the eligible coastal state for use in ac-
cordance with subparagraph (A)(i), regard-
less of the source; and 
‘‘(ii) the greater of— 
‘‘(I) $400,000; 
‘‘(II) 0.2 percent of the current 
valuation of the working waterfronts 
preservation loan fund of the eligible 
coastal state; or 
‘‘(III) an amount equal to 4 per-
cent of all grant awards made to the 
working waterfronts preservation loan 
fund of the eligible coastal state under 
this section for the fiscal year. 
‘‘(h) AUTHORIZATION OF APPROPRIATIONS.—There 
is authorized to be appropriated to the Secretary to carry 
out this section $50,000,000 for each of fiscal years 2024 
through 2028. 
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‘‘(i) DEFINITIONS.—In this section: 
‘‘(1) 
APPROVED
WORKING
WATERFRONTS 
PLAN.—The term ‘approved working waterfronts 
plan’ has the meaning given the term in section 
306B. 
‘‘(2) COVERED ENTITY.—The term ‘covered en-
tity’ means— 
‘‘(A) a State agency; 
‘‘(B) an Indian Tribe; 
‘‘(C) a Native Hawaiian organization; 
‘‘(D) a local government; or 
‘‘(E) a nonprofit organization. 
‘‘(3) DISADVANTAGED COMMUNITY.—The term 
‘disadvantaged community’ has the meaning given 
the term in section 306B. 
‘‘(4) ELIGIBLE COASTAL STATE.—The term ‘eli-
gible coastal state’ means a coastal state that has an 
approved working waterfronts plan. 
‘‘(5) 
WORKING
WATERFRONT.—The 
term 
‘working waterfront’ has the meaning given the term 
in section 306B. 
‘‘(6) WORKING
WATERFRONTS
PRESERVATION 
LOAN FUND.—The term ‘working waterfronts pres-
ervation loan fund’ means a revolving loan fund es-
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tablished under this section for the preservation of 
working waterfronts.’’. 
Æ 
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