Working waterfronts preservation grant program

(a) In general The Secretary of Commerce, acting through the Assistant Secretary of Commerce for Economic Development (referred to in this section as the Secretary), shall award grants, on a competitive basis, that support the commercial fishing industry, the aquaculture industry, the for-hire recreational fishing industry, or the boatbuilding industry in coastal States. (b) Application An entity desiring a grant under this section shall submit to the Secretary an application containing such information as the Secretary may reasonably require. (c) Considerations In selecting entities to receive a grant under this section, the Secretary shall give substantial weight to— (1) the economic significance of a project to the commercial fishing industry, the aquaculture industry, the for-hire recreational fishing industry, or the boatbuilding industry in the immediate vicinity and in the coastal State in which the project is located; (2) the availability of waterfront access points for the commercial fishing industry, the aquaculture industry, the for-hire recreational fishing industry, or the boatbuilding industry within the community in which the entity seeks to carry out the project; (3) the utility of the project for use in the commercial fishing industry, the aquaculture industry, the for-hire recreational fishing industry, or the boatbuilding industry with respect to the natural characteristics and developed infrastructure of the community in which the project will be located; (4) whether the entity has a business plan for the project; (5) anticipated or likely impacts of the project on existing uses, including commercial fishing, aquaculture, offshore aquaculture, for-hire recreational fishing, or boatbuilding; (6) the ability of the entity to demonstrate a need, or support, for the project within that community; and (7) if the project will confer property protection benefits, and the duration of those benefits. (d) Cost-Sharing A grant under this section for a project may not exceed 50 percent of the total cost of the project. (e) Improved or protected property (1) In general A grant under this section may be used to improve or protect privately-owned real property or interests in privately-owned real property, including easements, only from willing owners. (2) No exercise of eminent domain No Federal, State, or local agency may exercise the power of eminent domain to secure title to any real property or facilities in connection with a project carried out with a grant under this section. (f) Authorization of appropriations There is authorized to be appropriated to carry out this section $20,000,000 for each of fiscal years 2026 through 2030.