SEMI Investment Act

Bill: 118-s-5604
Sponsor: full_name: Sen. Blackburn, Marsha [R-TN]
Introduced: 2024-12-19
Policy area: Taxation
Latest action: action_date: 2024-12-19
text: Read twice and referred to the Committee on Finance.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 5604 IN THE SENATE OF THE UNITED STATES December 19 (legislative day, December 16), 2024 Mrs. Blackburn (for herself, Mr. Bennet , Mr. Tillis , and Mr. Coons ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to expand the advanced manufacturing investment credit to include materials integral to the manufacturing of semiconductors or semiconductor manufacturing equipment.

1. Short title This Act may be cited as the Strengthening Essential Manufacturing and Industrial Investment Act or the SEMI Investment Act . 2. Expansion of advanced manufacturing investment credit (a) In general Paragraph (3) of section 48D(b) of the Internal Revenue Code of 1986 is amended to read as follows: (3) Advanced manufacturing facility The term advanced manufacturing facility means a facility for which the primary purpose is the manufacturing of— (A) semiconductors, (B) semiconductor manufacturing equipment, or (C) materials primarily used for, and integral to, the manufacturing of semiconductors or semiconductor manufacturing equipment. . (b) Effective date The amendment made by this section shall take effect as if included in section 107 of the CHIPS Act of 2022 ( Public Law 117–167 ).