US SB2664

Creates a new 30% tax credit for qualified investments in workforce training projects that equip, expand, or enhance eligible educational institutions to address workforce shortages in manufacturing, advanced energy, construction, and transportation sectors

Caps total credit allocations at $500 million, with up to $400 million available for projects not involving Title I-eligible schools, rural schools, or Bureau of Indian Education schools

Eligible institutions include public secondary schools, area career and technical education schools, community colleges, postsecondary vocational institutions, Tribal Colleges, and state workforce development programs

Requires Treasury Department certification within a 4-year application window, with projects having 3 years from certification to be placed in service

Excludes foreign entities of concern from eligibility and allows credits to be transferred or received as elective payments