MAINE PUBLIC • August 1, 2024
Working waterfront businesses could get a 30% tax credit to protect properties from storm damage under a bill proposed by Maine Sen. Angus King. The incentive would have a one million dollar investment cap on improvements that support commercial fishing, boat yards and other marine businesses. Businesses would be expected to make investments that help prevent major damage from natural disasters. King introduced the measure with Senator Bill Cassidy, a Republican from Louisiana. Funding to lessen storm impacts is cheaper than paying for recovery, King said.