H.R. 5494 — Introduced in House

I 113th CONGRESS 2d Session H. R. 5494 IN THE HOUSE OF REPRESENTATIVES September 16, 2014 Ms. Lee of California (for herself and Mr. Honda) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to provide the work opportunity tax credit with respect to the hiring of veterans in the field of renewable energy. 1. Short title This Act may be cited as the Incentives for our Nation’s Veterans in Energy Sustainability Technologies or as the INVEST Act. 2. Work opportunity tax credit for veterans hired in the field of renewable energy (a) In general Section 51(d)(14) of the Internal Revenue Code of 1986 is amended to read as follows: (14) Certain veterans hired in the field of renewable energy (A) In general For purposes of this subpart, an individual shall be treated a member of a targeted group if such individual is a specified veteran, but qualified wages with respect to such individual shall include only wages attributable to services rendered in a field of renewable energy. (B) Specified veteran For purposes of this paragraph, the term specified veteran means any veteran (as defined in paragraph (3)) who is certified by the designated local agency as— (i) having received a credential or certification from the Department of Defense of military occupational specialty or skill in a field of renewable energy or with respect to advanced manufacturing, machinist or welding, or engineering, (ii) having completed a vocational degree in a field of renewable energy during the 1-year period ending on the hiring date, or (iii) having completed a LEED certification with the United States Green Building Council. (C) Renewable energy For purposes of this paragraph, renewable energy means resources that rely on fuel sources that restore themselves over short periods of time and do not diminish, including the sun, wind, moving water, organic plant and waste material, and the earth’s heat. . (b) Effective date The amendment made by this section shall apply to individuals who begin work for the employer after December 31, 2013.