The CHIPS Act provides funding for two main strategic priorities administered by two offices.
CHIPS R&D Office
CHIPS Program Office (CPO)
The CHIPS R&D Office is investing $11 billion into developing a robust domestic R&D ecosystem, while the CPO is dedicating $39 billion to provide incentives for investment in facilities and equipment in the United States. The CHIPS Act also established a related tax credit program under Section 48D of the Internal Revenue Code (IRC).