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 2026 through 2030. 
‘‘(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 
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 
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‘‘(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 
‘‘(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). 
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‘‘(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— 
‘‘(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. 
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‘‘(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— 
‘‘(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, 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-
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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. 
‘‘(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 
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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.— 
‘‘(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 
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