BASIC ACT

Bill: 119-hr-3204
Sponsor: full_name: Rep. Tenney, Claudia [R-NY-24]
Introduced: 2025-05-05
Policy area: Taxation
Latest action: action_date: 2025-05-05
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 3204 IN THE HOUSE OF REPRESENTATIVES May 5, 2025 Ms. Tenney (for herself, Mr. Suozzi , Ms. Malliotakis , Mr. Langworthy , Mr. Fitzpatrick , Mr. Morelle , Mr. Mannion , Mr. Tonko , Mr. Carey , Mr. Kennedy of New York , Mr. Riley of New York , Mr. Horsford , Ms. Balint , Mr. Simpson , Mr. Subramanyam , Mrs. Kiggans of Virginia , Mrs. Kim , Mr. Lawler , Mr. Khanna , and Ms. Stefanik ) 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 increase the advanced manufacturing investment credit, and for other purposes.

1. Short title This Act may be cited as the Building Advanced Semiconductors Investment Credit Act or BASIC ACT . 2. Increase of advanced manufacturing investment credit (a) Credit increase Section 48D(a) of the Internal Revenue Code of 1986 is amended by striking 25 percent and inserting 35 percent . (b) Credit period extension Section 48D(e) of such Code is amended by striking December 31, 2026 and inserting December 31, 2030 . (c) Effective date The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.