Title: Keep America’s Waterfronts Working Act
Policy area: Public Lands and Natural Resources

Summary:
Keep America's Waterfronts Working Act
This bill addresses the preservation and accessibility of waterfronts in coastal states.
The bill directs the National Oceanic and Atmospheric Administration (NOAA) to establish a Working Waterfront Task Force that will be designed to identify and address critical working waterfront needs with respect to cultural and economic importance, environmental threats, and market conditions for water-dependent businesses.
NOAA must also establish a Working Waterfront Grant Program. Under the program, NOAA may award grants to coastal states with approved working waterfront plans in place to preserve and expand access to coastal waters for people engaged in fishing, aquaculture, boat building, and other water-dependent businesses.
In addition, NOAA is authorized to award grants to coastal states for the purpose of developing or revising working waterfront plans.
States are allowed to allocate any grant money received to eligible local governments and other entities. Each state that is awarded a grant must contribute at least 25% of matching funds towards the total cost of the project carried out with the grant, subject to certain exceptions.
The bill establishes the Working Waterfronts Preservation Loan Fund to provide loans to coastal states for the purpose of implementing working waterfront plans.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3596 Introduced in House (IH)]

<DOC>






116th CONGRESS
  1st Session
                                H. R. 3596

To amend the Coastal Zone Management Act of 1972 to establish a Working 
Waterfront Task Force and a working waterfronts grant program, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 28, 2019

  Ms. Pingree (for herself, Mr. Wittman, Mr. Huffman, Mr. Rouda, Mr. 
  Carbajal, and Mr. Keating) 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 
Waterfront Task Force and a working waterfronts grant program, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Keep America's Waterfronts Working 
Act''.

SEC. 2. WORKING WATERFRONTS GRANT PROGRAM.

    The Coastal Zone Management Act of 1972 (16 U.S.C. 1451 et seq.) is 
amended by adding at the end the following:

``SEC. 320. WORKING WATERFRONTS GRANT PROGRAM.

    ``(a) Findings and Purpose.--
            ``(1) Findings.--The Congress finds the following:
                    ``(A) Water-dependent commercial activities are the 
                economic and cultural heart of many coastal 
                communities. These activities include commercial 
                fishing, recreational fishing businesses, aquaculture, 
                boatbuilding, transportation, and many other water-
                dependent businesses.
                    ``(B) Water-dependent commercial activities depend 
                on coastal access in the form of--
                            ``(i) docks, wharfs, boat lifts, wet and 
                        dry marinas, and boat ramps;
                            ``(ii) boat hauling, repair, and 
                        construction facilities;
                            ``(iii) commercial fishing facilities; and
                            ``(iv) other support structures on, over, 
                        or adjacent to navigable bodies of water.
                    ``(C) The coastal zone of the United States is 
                experiencing rising property values and taxes, and 
                related development pressure, as more people move to 
                the coastal zone and as coastal areas experience a 
                demographic shift favoring wealthier individuals.
                    ``(D) The coastal zone is facing numerous 
                challenges due to extreme weather events, sea level 
                rise, and other changes.
                    ``(E) Privately owned access areas for water-
                dependent commercial activity in many States are under 
                increasing threat from private residential development 
                and other conversion. Such development and investment 
                is often not conducted in ways that accounts for 
                resilience.
                    ``(F) Loss of access for water-dependent commercial 
                activity would have economically and culturally 
                devastating consequences for many coastal communities.
            ``(2) Purpose.--The purpose of this section is to preserve 
        and protect coastal access for persons engaged in water-
        dependent commercial activities, including commercial fishing, 
        recreational fishing businesses, aquaculture, boatbuilding, or 
        other water-dependent coastal-related businesses.
    ``(b) Working Waterfront Task Force.--
            ``(1) Establishment and functions.--The Secretary of 
        Commerce shall establish a task force to work directly with 
        coastal States, user groups, and coastal stakeholders to 
        identify and address critical needs with respect to working 
        waterfronts.
            ``(2) Membership.--The members of the task force shall be 
        appointed by the Secretary of Commerce, and shall include--
                    ``(A) experts in the unique economic, social, 
                cultural, ecological, geographic, and resource concerns 
                of working waterfronts; and
                    ``(B) representatives from the National Oceanic and 
                Atmospheric Administration's Office of Coastal 
                Management, the United States Fish and Wildlife 
                Service, the Department of Agriculture, the 
                Environmental Protection Agency, the United States 
                Geological Survey, the Navy, the National Marine 
                Fisheries Service, the Economic Development Agency, and 
                such other Federal agencies as the Secretary considers 
                appropriate.
            ``(3) Functions.--The task force shall--
                    ``(A) identify and prioritize critical needs with 
                respect to working waterfronts in States that have a 
                management program approved by the Secretary of 
                Commerce pursuant to section 306, in the areas of--
                            ``(i) economic and cultural importance of 
                        working waterfronts to communities;
                            ``(ii) changing environments and threats 
                        working waterfronts face from environment 
                        changes, trade barriers, sea level rise, 
                        extreme weather events, ocean acidification, 
                        and harmful algal blooms; and
                            ``(iii) identifying working waterfronts and 
                        highlighting them within communities;
                    ``(B) outline options, in coordination with coastal 
                States and local stakeholders, to address such critical 
                needs, including adaptation and mitigation where 
                applicable;
                    ``(C) identify Federal agencies that are 
                responsible under existing law for addressing such 
                critical needs; and
                    ``(D) recommend Federal agencies best suited to 
                address any critical needs for which no agency is 
                responsible under existing law.
            ``(4) Information to be considered.--In identifying and 
        prioritizing policy gaps pursuant to paragraph (3), the task 
        force shall consider the findings and recommendations contained 
        in section VI of the report entitled `The Sustainable Working 
        Waterfronts Toolkit: Final Report', dated March 2013.
            ``(5) Report.--Not later than 18 months after the date of 
        the enactment of this section, the task force shall submit a 
        report to Congress on its findings.
            ``(6) Implementation.--The head of each Federal agency 
        identified in the report pursuant to paragraph (3)(C) shall 
        take such action as is necessary to implement the 
        recommendations contained in the report by not later than 1 
        year after the date of the issuance of the report.
    ``(c) Working Waterfront Grant Program.--
            ``(1) The Secretary shall establish a Working Waterfront 
        Grant Program, in cooperation with appropriate State, regional, 
        and other units of government, under which the Secretary may 
        make a grant to any coastal State for the purpose of 
        implementing a working waterfront plan approved by the 
        Secretary under subsection (d).
            ``(2) Subject to the availability of appropriations, the 
        Secretary shall award matching grants under the Working 
        Waterfronts Grant Program to coastal States with approved 
        working waterfront plans through a regionally equitable, 
        competitive funding process in accordance with the following:
                    ``(A) The Governor, or the lead agency designated 
                by the Governor for coordinating the implementation of 
                this section, where appropriate in consultation with 
                the appropriate local government, shall determine that 
                the application is consistent with the State's or 
                territory's approved coastal zone plan, program, and 
                policies prior to submission to the Secretary.
                    ``(B) In developing guidelines under this section, 
                the Secretary shall consult with coastal States, other 
                Federal agencies, and other interested stakeholders 
                with expertise in working waterfront planning.
                    ``(C) Coastal States may allocate grants to local 
                governments, agencies, or nongovernmental organizations 
                eligible for assistance under this section.
            ``(3) In awarding a grant to a coastal State, the Secretary 
        shall consider--
                    ``(A) the economic, cultural, and historical 
                significance of working waterfront to the coastal 
                State;
                    ``(B) the demonstrated working waterfront needs of 
                the coastal State as outlined by a working waterfront 
                plan approved for the coastal State under subsection 
                (d), and the value of the proposed project for the 
                implementation of such plan;
                    ``(C) the ability to successfully leverage funds 
                among participating entities, including Federal 
                programs, regional organizations, State and other 
                government units, landowners, corporations, or private 
                organizations;
                    ``(D) the potential for rapid turnover in the 
                ownership of working waterfront in the coastal State, 
                and where applicable the need for coastal States to 
                respond quickly when properties in existing or 
                potential working waterfront areas or public access 
                areas as identified in the working waterfront plan 
                submitted by the coastal State come under threat or 
                become available; and
                    ``(E) the impact of the working waterfront plan 
                approved for the coastal State under subsection (d) on 
                the coastal ecosystem and the users of the coastal 
                ecosystem.
            ``(4) The Secretary shall approve or reject an application 
        for such a grant within 60 days after receiving an application 
        for the grant.
    ``(d) Working Waterfront Plans.--
            ``(1) To be eligible for a grant under subsection (c), a 
        coastal State must submit and have approved by the Secretary a 
        comprehensive working waterfront plan in accordance with this 
        subsection, or be in the process of developing such a plan and 
        have an established working waterfront program at the State or 
        local level, or the Secretary determines that an existing 
        coastal land use plan for that State is in accordance with this 
        subsection.
            ``(2) Such plan--
                    ``(A) must provide for preservation and expansion 
                of access to coastal waters to persons engaged in 
                commercial fishing, recreational fishing businesses, 
                aquaculture, boatbuilding, or other water-dependent, 
                coastal-related business;
                    ``(B) shall include one or more of--
                            ``(i) an assessment of the economic, 
                        social, cultural, and historic value of working 
                        waterfront to the coastal State;
                            ``(ii) a description of relevant State and 
                        local laws and regulations affecting working 
                        waterfront in the geographic areas identified 
                        in the working waterfront plan;
                            ``(iii) identification of geographic areas 
                        where working waterfronts are currently under 
                        threat of conversion to uses incompatible with 
                        commercial fishing, recreational fishing 
                        businesses, aquaculture, boatbuilding, or other 
                        water-dependent, coastal-related business, and 
                        the level of that threat;
                            ``(iv) identification of geographic areas 
                        with a historic connection to working 
                        waterfronts where working waterfronts are not 
                        currently available, and, where appropriate, an 
                        assessment of the environmental impacts of any 
                        expansion or new development of working 
                        waterfronts on the coastal ecosystem;
                            ``(v) identification of other working 
                        waterfront needs including improvements to 
                        existing working waterfronts and working 
                        waterfront areas;
                            ``(vi) a strategic and prioritized plan for 
                        the preservation, expansion, and improvement of 
                        working waterfronts in the coastal State;
                            ``(vii) for areas identified under clauses 
                        (iii), (iv), (v), and (vi), identification of 
                        current availability and potential for 
                        expansion of public access to coastal waters;
                            ``(viii) a description of the degree of 
                        community support for such strategic plan; and
                            ``(ix) a contingency plan for properties 
                        that revert to the coastal State pursuant to 
                        determinations made by the coastal State under 
                        subsection (h)(4)(C);
                    ``(C) may include detailed environmental impacts on 
                working waterfronts, including hazards, sea level rise, 
                inundation exposure, and other resiliency issues;
                    ``(D) may be part of the management program 
                approved under section 306;
                    ``(E) shall utilize to the maximum extent 
                practicable existing information contained in relevant 
                surveys, plans, or other strategies to fulfill the 
                information requirements under this paragraph; and
                    ``(F) shall incorporate the policies and 
                regulations adopted by communities under local working 
                waterfront plans or strategies in existence before the 
                date of the enactment of this section.
            ``(3) A working waterfront plan--
                    ``(A) shall be effective for purposes of this 
                section for the 5-year period beginning on the date it 
                is approved by the Secretary;
                    ``(B) must be updated and re-approved by the 
                Secretary before the end of such period; and
                    ``(C) shall be complimentary to and incorporate the 
                policies and objectives of regional or local working 
                waterfront plans as in effect before the date of 
                enactment of this section or as subsequently revised.
            ``(4) The Secretary may--
                    ``(A) award planning grants to coastal States for 
                the purpose of developing or revising comprehensive 
                working waterfront plans; and
                    ``(B) award grants consistent with the purposes of 
                this section to States undertaking the working 
                waterfront planning process under this section, for the 
                purpose of preserving and protecting working 
                waterfronts during such process.
            ``(5) Any coastal State applying for a working waterfront 
        grant under this title shall--
                    ``(A) develop a working waterfront plan, using a 
                process that involves the public and those with an 
                interest in the coastal zone;
                    ``(B) coordinate development and implementation of 
                such a plan with other coastal management programs, 
                regulations, and activities of the coastal State; and
                    ``(C) if the coastal State allows qualified holders 
                (other than the coastal State) to enter into working 
                waterfront covenants, provide as part of the working 
                waterfront plan under this subsection a mechanism or 
                procedure to ensure that the qualified holders are 
                complying their duties to enforce the working 
                waterfront covenant.
    ``(e) Uses, Terms, and Conditions.--
            ``(1) Each grant made by the Secretary under this section 
        shall be subject to such terms and conditions as may be 
        appropriate to ensure that the grant is used for purposes 
        consistent with this section.
            ``(2) A grant under this section may be used--
                    ``(A) to acquire a working waterfront, or an 
                interest in a working waterfront;
                    ``(B) to make improvements to a working waterfront, 
                including the construction or repair of wharfs, boat 
                ramps, or related facilities; or
                    ``(C) for necessary climate adaptation mitigation.
    ``(f) Public Access Requirement.--A working waterfront project 
funded by grants made under this section must provide for expansion, 
improvement, or preservation of reasonable and appropriate public 
access to coastal waters at or in the vicinity of a working waterfront, 
except for commercial fishing or other industrial access points where 
the coastal State determines that public access would be unsafe.
    ``(g) Limitations.--
            ``(1) Except as provided in paragraph (2), a grant awarded 
        under this section may be used to purchase working waterfront 
        or an interest in working waterfront, including an easement, 
        only from a willing seller and at fair market value.
            ``(2) A grant awarded under this section may be used to 
        acquire working waterfront or an interest in working waterfront 
        at less than fair market value only if the owner certifies to 
        the Secretary that the sale is being entered into willingly and 
        without coercion.
            ``(3) No Federal, State, or local entity may exercise the 
        power of eminent domain to secure title to any property or 
        facilities in connection with a project carried out under this 
        section.
    ``(h) Allocation of Grants to Local Governments and Other 
Entities.--
            ``(1) The Secretary shall encourage coastal States to 
        broadly allocate amounts received as grants under this section 
        among working waterfronts identified in working waterfront 
        plans approved under subsection (d).
            ``(2) Subject to the approval of the Secretary, a coastal 
        State may, as part of an approved working waterfront plan, 
        designate as a qualified holder any unit of State or local 
        government or nongovernmental organization, if the coastal 
        State is ultimately responsible for ensuring that the property 
        will be managed in a manner that is consistent with the 
        purposes for which the land entered into the program.
            ``(3) A coastal State or a qualified holder designated by a 
        coastal State may allocate to a unit of local government, 
        nongovernmental organization, fishing cooperative, or other 
        entity, a portion of any grant made under this section for the 
        purpose of carrying out this section, except that such an 
        allocation shall not relieve the coastal State of the 
        responsibility for ensuring that any funds so allocated are 
        applied in furtherance of the coastal State's approved working 
        waterfront plan.
            ``(4) A qualified holder may hold title to or interest in 
        property acquired under this section, except that--
                    ``(A) all persons holding title to or interest in 
                working waterfront affected by a grant under this 
                section, including a qualified holder, private citizen, 
                private business, nonprofit organization, fishing 
                cooperative, or other entity, shall enter into a 
                working waterfront covenant;
                    ``(B) such covenant shall be held by the coastal 
                State or a qualified holder designated under paragraph 
                (2);
                    ``(C) if the coastal State determines, on the 
                record after an opportunity for a hearing, that the 
                working waterfront covenant has been violated--
                            ``(i) all right, title, and interest in and 
                        to the working waterfront covered by such 
                        covenant shall, except as provided in 
                        subparagraph (D), revert to the coastal State; 
                        and
                            ``(ii) the coastal State shall have the 
                        right of immediate entry onto the working 
                        waterfront;
                    ``(D) if a coastal State makes a determination 
                under subparagraph (C), the coastal State may convey or 
                authorize the qualified holder to convey the working 
                waterfront or interest in working waterfront to another 
                qualified holder; and
                    ``(E) nothing in this subsection waives any legal 
                requirement under any Federal or State law.
    ``(i) Matching Contributions.--
            ``(1) Except as provided in paragraph (2), the Secretary 
        shall require that each coastal State that receives a grant 
        under this section, or a qualified holder designated by that 
        coastal State under subsection (h), shall provide matching 
        funds in an amount equal to at least 25 percent of the total 
        cost of the project carried out with the grant.
            ``(2) The Secretary may waive the application of paragraph 
        (1) for any qualified holder that is an underserved community, 
        a community that has an inability to draw on other sources of 
        funding because of the small population or low income of the 
        community, or for other reasons the Secretary considers 
        appropriate.
            ``(3) A local community designated as a qualified holder 
        under subsection (h) may utilize funds or other in-kind 
        contributions donated by a nongovernmental partner to satisfy 
        the matching funds requirement under this subsection.
            ``(4) As a condition of receipt of a grant under this 
        section, the Secretary shall require that a coastal State 
        provide to the Secretary such assurances as the Secretary 
        determines are sufficient to demonstrate that the share of the 
        cost of each eligible project that is not funded by the grant 
        awarded under this section has been secured.
            ``(5) If financial assistance under this section represents 
        only a portion of the total cost of a project, funding from 
        other Federal sources may be applied to the cost of the 
        project. Each portion shall be subject to match requirements 
        under the applicable provision of law.
            ``(6) The Secretary shall treat as non-Federal match the 
        value of a working waterfront or interest in a working 
        waterfront, including conservation and other easements, that is 
        held in perpetuity by a qualified holder, if the working 
        waterfront or interest is identified in the application for the 
        grant and acquired by the qualified holder within 3 years of 
        the grant award date, or within 3 years after the submission of 
        the application and before the end of the grant award period. 
        Such value shall be determined by an appraisal performed at 
        such time before the award of the grant as the Secretary 
        considers appropriate.
            ``(7) The Secretary shall treat as non-Federal match the 
        costs associated with acquisition of a working waterfront or an 
        interest in a working waterfront, and the costs of restoration, 
        enhancement, or other improvement to a working waterfront, if 
        the activities are identified in the project application and 
        the costs are incurred within the period of the grant award, 
        or, for working waterfront described in paragraph (6), within 
        the same time limits described in that paragraph. These costs 
        may include either cash or in-kind contributions.
    ``(j) Limit on Administrative Costs.--No more than 5 percent of the 
funds made available to the Secretary under this section may be used by 
the Secretary for planning or administration of the program under this 
section.
    ``(k) Other Technical and Financial Assistance.--
            ``(1) Up to 5 percent of the funds appropriated under this 
        section may be used by the Secretary for purposes of providing 
        technical assistance as described in this subsection.
            ``(2) The Secretary shall--
                    ``(A) provide technical assistance to coastal 
                States and local governments in identifying and 
                obtaining other sources of available Federal technical 
                and financial assistance for the development and 
                revision of a working waterfront plan and the 
                implementation of an approved working waterfront plan;
                    ``(B) provide technical assistance to States and 
                local governments for the development, implementation, 
                and revision of comprehensive working waterfront plans, 
                which may include, subject to the availability of 
                appropriations, planning grants and assistance, pilot 
                projects, feasibility studies, research, and other 
                projects necessary to further the purposes of this 
                section;
                    ``(C) assist States in developing other tools to 
                protect working waterfronts;
                    ``(D) collect and disseminate to States guidance 
                for best storm water management practices in regards to 
                working waterfronts;
                    ``(E) provide technical assistance to States and 
                local governments on integrating resilience planning 
                into working waterfront preservation efforts; and
                    ``(F) collect and disseminate best practices on 
                working waterfronts and resilience planning.
    ``(l) Reports.--
            ``(1) The Secretary shall--
                    ``(A) develop performance measures to evaluate and 
                report on the effectiveness of the program under this 
                section in accomplishing the purpose of this section; 
                and
                    ``(B) submit to Congress a biennial report that 
                includes such evaluations, an account of all 
                expenditures, and descriptions of all projects carried 
                out using grants awarded under this section.
            ``(2) The Secretary may submit the biennial report under 
        paragraph (1)(B) by including it in the biennial report 
        required under section 316.
    ``(m) Definitions.--In this section:
            ``(1) The term `qualified holder' means a coastal State or 
        a unit of local or coastal State government or a non-State 
        organization designated by a coastal State under subsection 
        (h).
            ``(2) The term `Secretary' means the Secretary, acting 
        through the National Oceanic and Atmospheric Administration.
            ``(3) The term `working waterfront' means real property 
        (including support structures over water and other facilities) 
        that provides access to coastal waters to persons engaged in 
        commercial fishing, recreational fishing businesses, 
        boatbuilding, aquaculture, or other water-dependent, coastal-
        related business and is used for, or that supports, commercial 
        fishing, recreational fishing businesses, boatbuilding, 
        aquaculture, or other water-dependent, coastal-related 
        business.
            ``(4) The term `working waterfront covenant' means an 
        agreement in recordable form between the owner of working 
        waterfront and one or more qualified holders, that provides 
        such assurances as the Secretary may require that--
                    ``(A) the title to or interest in the working 
                waterfront will be held by a grant recipient or 
                qualified holder in perpetuity, except as provided in 
                subparagraph (C);
                    ``(B) the working waterfront will be managed in a 
                manner that is consistent with the purposes for which 
                the property is acquired pursuant to this section, and 
                the property will not be converted to any use that is 
                inconsistent with the purpose of this section;
                    ``(C) if the title to or interest in the working 
                waterfront is sold or otherwise exchanged--
                            ``(i) all working waterfront owners and 
                        qualified holders involved in such sale or 
                        exchange shall accede to such agreement; and
                            ``(ii) funds equal to the fair market value 
                        of the working waterfront or interest in 
                        working waterfront shall be paid to the 
                        Secretary by parties to the sale or exchange, 
                        and such funds shall, at the discretion of the 
                        Secretary, be paid to the coastal State in 
                        which the working waterfront is located for use 
                        in the implementation of the working waterfront 
                        plan of the State approved by the Secretary 
                        under this section; and
                    ``(D) such covenant is subject to enforcement and 
                oversight by the coastal State or by another person as 
                determined appropriate by the Secretary.
    ``(n) Authorization of Appropriations.--There is authorized to be 
appropriated to the Grant Program $12,000,000.''.

SEC. 3. WORKING WATERFRONTS PRESERVATION FUND; GRANTS.

    The Coastal Zone Management Act of 1972 (16 U.S.C. 1451 et seq.) is 
further amended by adding at the end the following:

``SEC. 321. WORKING WATERFRONTS PRESERVATION LOAN FUND.

    ``(a) Fund.--There is established in the Treasury a separate 
account that shall be known as the `Working Waterfronts Preservation 
Loan Fund' (in this section referred to as the `Fund').
    ``(b) Use.--
            ``(1) Subject to the availability of appropriations, 
        amounts in the Fund may be used by the Secretary to make loans 
        to coastal States for the purpose of implementing a working 
        waterfront plan approved by the Secretary under section 320(d) 
        through preservation, improvement, restoration, rehabilitation, 
        acquisition of working waterfront properties under criteria 
        established by the Secretary.
            ``(2) Upon enactment of this Act, the Secretary of Commerce 
        shall conduct a feasibility study on the administration of the 
        development and management of a Working Waterfronts 
        Preservation Loan Fund.
            ``(3) Upon the completion of the study under paragraph (2), 
        the Secretary shall establish a fund in accordance with the 
        results of that study, and establish such criteria as 
        referenced in subsection (c) in consultation with States that 
        have a management program approved by the Secretary of Commerce 
        pursuant to section 306 and local government coastal management 
        programs.
    ``(c) Award Criteria.--The Secretary shall award loans under this 
section through a regionally equitable, competitive funding process, 
and in accordance with the following:
            ``(1) The Governor, or the lead agency designated by the 
        Governor for coordinating the implementation of this section, 
        where appropriate in consultation with the appropriate local 
        government, shall determine that an application for a loan is 
        consistent with the State's approved coastal zone plan, 
        program, and policies prior to submission to the Secretary.
            ``(2) In developing guidelines under this section, the 
        Secretary shall consult with coastal States, other Federal 
        agencies, and other interested stakeholders with expertise in 
        working waterfront planning.
            ``(3) Coastal States may allocate amounts loaned under this 
        section to local governments, agencies, or nongovernmental 
        organizations eligible for loans under this section.
            ``(4) In awarding a loan for activities in a coastal State, 
        the Secretary shall consider--
                    ``(A) the economic and cultural significance of 
                working waterfront to the coastal State;
                    ``(B) the demonstrated working waterfront needs of 
                the coastal State as outlined by a working waterfront 
                plan approved for the coastal State under subsection 
                320(d), and the value of the proposed loan for the 
                implementation of such plan;
                    ``(C) the ability to successfully leverage loan 
                funds among participating entities, including Federal 
                programs, regional organizations, State and other 
                government units, landowners, corporations, or private 
                organizations;
                    ``(D) the potential for rapid turnover in the 
                ownership of working waterfront in the coastal State, 
                and where applicable the need for coastal States to 
                respond quickly when properties in existing or 
                potential working waterfront areas or public access 
                areas as identified in the working waterfront plan 
                submitted by the coastal State come under threat or 
                become available;
                    ``(E) the impact of the loan on the coastal 
                ecosystem and the users of the coastal ecosystem; and
                    ``(F) the extent of the historic connection between 
                working waterfronts for which the loan will be used and 
                the local communities within the coastal State.
    ``(d) Loan Amount and Terms.--
            ``(1) The amount of a loan under this section--
                    ``(A) shall be not less than $100,000; and
                    ``(B) shall not exceed 15 percent of the amount in 
                the Fund as of July 1 of the fiscal year in which the 
                loan is made.
            ``(2) The interest rate for a loan under this section shall 
        not exceed 4 percent.
            ``(3) The repayment term for a loan under this section 
        shall not exceed 20 years.
    ``(e) Deadline for Approval.--The Secretary shall approve or reject 
an application for a loan under this section within 60 days after 
receiving an application for the loan.
    ``(f) Limit on Administrative Costs.--No more than 5 percent of the 
funds made available to the Secretary under this section may be used by 
the Secretary for planning or administration of the program under this 
section.
    ``(g) Definitions.--The definitions in section 320(m) shall apply 
to this section.
    ``(h) Authorization of Appropriations.--There is authorized to be 
appropriated to the Fund $12,000,000.''.
                                 <all>