INVEST Act

This bill aims to expand the existing Work Opportunity Tax Credit (WOTC) by amending the Internal Revenue Code. It introduces a new category of eligible individuals: specified veterans hired in the field of renewable energy , thereby incentivizing their employment in this critical sector. The credit applies to qualified wages for services rendered in renewable energy fields, which encompass sources like solar, wind, and hydropower. To be considered a specified veteran, an individual must be certified by a local agency as meeting particular qualifications. These include possessing a Department of Defense credential or certification in renewable energy or related fields, completing a vocational degree in renewable energy within the year prior to hiring, or holding a LEED certification. The bill also includes provisions for U.S. possessions, ensuring they receive equivalent benefits or compensation for lost tax revenue. These amendments are scheduled to apply to individuals who begin work for an employer after December 31, 2025.