INVEST Act

Bill Number

H.R. 8786

Origin Chamber

House

Congress

119th Congress, Session 2

Policy Area

Taxation

Status

Introduced

Latest Action

2026-05-13: Referred to the House Committee on Ways and Means.

Last Updated

2026-06-24T08:08:59Z

AI-Generated Summary

Summary of H.R. 8786 (119th Congress)

Purpose

This legislation aims to encourage employers to hire veterans by expanding the work opportunity tax credit to cover those employed in renewable energy fields. It seeks to support veterans with relevant skills or training while promoting the renewable energy sector.

Key Provisions

• Short Title: The bill is named the "Incentives for our Nation's Veterans in Energy Sustainability Technologies Act" or "INVEST Act."
• Amendment to Tax Credit: It modifies Section 51(d)(14) of the Internal Revenue Code of 1986 to create a new targeted group for the work opportunity tax credit, limited to wages for services in renewable energy.
• A "specified veteran" qualifies if certified by a local agency as having:
• A Department of Defense credential in renewable energy, advanced manufacturing, machinist/welding, or engineering.
• A vocational degree in renewable energy completed within one year before hiring.
• A LEED certification from the United States Green Building Council.
• Renewable energy is defined as resources that naturally replenish, such as solar, wind, water, organic materials, and geothermal heat.
• Application to U.S. Possessions: The Treasury Department must make payments to U.S. territories (including American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and Virgin Islands) to offset revenue losses from the credit. Mirror-code possessions receive direct payments based on reported losses; others receive estimates if they implement equivalent benefits. Credits against U.S. taxes are reduced by any territorial benefits.
• Effective Date: Applies to veterans starting work after December 31, 2025.

Significant Changes to Existing Law

• The work opportunity tax credit under the Internal Revenue Code is expanded by adding a new category for veterans in renewable energy, restricting qualifying wages to that sector only.
• New administrative rules are introduced for coordinating the credit with tax systems in U.S. possessions, including payment mechanisms and reductions to avoid double benefits.

Potential Impacts

• On Government Agencies: The Internal Revenue Service and Treasury Department would handle certification, credit administration, and payments to possessions, potentially increasing administrative workload and costs.
• On Citizens: Veterans meeting the criteria could gain employment incentives in renewable energy jobs; employers in that sector might see reduced hiring costs through tax savings.
• On International Relations: No direct effects are outlined, though provisions for U.S. possessions address tax coordination with territories.

Main Stakeholders Affected

• Veterans with specified credentials or training in renewable energy or related fields.
• Employers hiring such veterans in the renewable energy industry.
• The Department of the Treasury and Internal Revenue Service for implementation and payments.
• Governments of U.S. possessions (territories) regarding tax benefit coordination.

Notable Legal, Constitutional, or Political Implications

• This represents a targeted expansion of an existing tax incentive program, focusing on veterans and renewable energy without altering broader constitutional tax authority.
• The inclusion of possession-specific rules ensures uniform application across U.S. territories while maintaining federal oversight of credit coordination.

This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.

Sponsor

Rep. Clarke, Yvette D. [D-NY-9]

Cosponsors (4)

Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Kamlager-Dove, Sydney [D-CA-37], Rep. Crockett, Jasmine [D-TX-30], Rep. Keating, William R. [D-MA-9]

Recent Actions

• 2026-05-13: Referred to the House Committee on Ways and Means.
• 2026-05-13: Introduced in House
• 2026-05-13: Introduced in House

Bill Versions

• Incentives for our Nation’s Veterans in Energy Sustainability Technologies Act — issued 2026-05-13 — PDF (6 pages)