,,ii  #aafth ,,congress  #b;d ,session  
,s4 #cicc  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #aj1     
#bjbj,mr4 ,cornyn 7for himself1 ,mr4    
,warner1 ,mr4 ,risch1 ,mr4 ,rubio1 and  
,ms4 ,sinema7 introduced the following  
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to restore ,american leadership in   
semiconductor manufacturing by          
increasing ,federal incentives in order 
to enable advanced research and         
development1 secure the supply chain1   
and ensure long-term national security  
and economic competitiveness4  #a4      
,short title ,this ,act may be cited as 
the ,creating ,helpful ,incentives to   
,produce ,semiconductors for ,america   
,act or the ,,chips for ,america ,act4  
#b4 ,semiconductor investment tax credit
  7a7 ,establishment of credit ,subpart 
,e of part ,,iv of subchapter ,a of     
chapter #a of the ,internal ,revenue    
,code of #aihf is amended by inserting  
after section #dh;,c the following3     

#dh;,d4 ,qualifying semiconductor       
equipment credit  7a7 ,in general ,for  
purposes of section #df1 the qualifying 
semiconductor equipment credit for any  
taxable year is the applicable          
percentage of-- 7#a7 the basis of any   
qualified semiconductor equipment placed
 in service during such taxable year1   
7#b7 any qualified semiconductor        
manufacturing facility investment       
expenditures incurred during such       
taxable year1 and  7#c7 any expenses    
incurred by the taxpayer during such    
taxable year with respect to entering   
into a lease 7including renewal or      
extension of a lease7 for qualified     
semiconductor equipment4  7b7           
,applicable percentage ,for purposes of 
subsection 7a71 the applicable          
percentage is-- 7#a7 #dj percent in the 
case of any qualified semiconductor     
equipment which is placed in service    
before ,january #a1 #bjbe1 or any       
qualified semiconductor manufacturing   
facility investment expenditures or     

expenses described in subsection 7a77#c7
 which are incurred before such date1   
7#b7 #cj percent in the case of any such
 equipment which is placed in service1  
or any such expenditures or expenses    
which are incurred1 after ,december #ca1
 #bjbd1 and before ,january #a1 #bjbf1  
7#c7 #bj percent in the case of any such
 equipment which is placed in service1  
or any such expenditures or expenses    
which are incurred1 after ,december #ca1
 #bjbe1 and before ,january #a1 #bjbg1  
and  7#d7 #j percent in the case of any 
such equipment which is placed in       
service1 or any such expenditures or    
expenses which are incurred1 after      
,december #ca1 #bjbf4  7c7 ,qualified   
semiconductor equipment ,for purposes of
 this section1 the term qualified       
semiconductor equipment means any       
property-- 7#a7 which has been          
identified by the ,secretary1 in        
consultation with the ,secretary of     
,commerce1 as machinery or equipment    
that is designed and used to-- 7,a7     

manufacture or process semiconductors1  
or  7,b7 perform research with respect  
to semiconductors1  7#b7 which is placed
 in service in the ,united ,states by   
the taxpayer1 and  7#c7 with respect to 
which depreciation 7or amortization in  
lieu of depreciation7 is allowable4  7d7
 ,qualified semiconductor manufacturing 
facility investment expenditures ,for   
purposes of this section1 the term      
qualified semiconductor manufacturing   
facility investment expenditure means   
any amount properly chargeable to       
capital account-- 7#a7 for property for 
which depreciation is allowable under   
section #afh1 and  7#b7 in connection   
with the construction or upgrading of   
any facility located in the ,united     
,states which substantially operates    
qualified semiconductor equipment1      
including-- 7,a7 costs relating to-- 7i7
 acquiring or upgrading an existing     
building1 or  7ii7 construction of a new
 building1 and  7,b7 property such as-- 
7i7 integrated systems1 fixtures1       

piping1 movable partitions1 and         
lighting1 and  7ii7 any property which  
has been identified by the ,secretary1  
in consultation with the ,secretary of  
,commerce1 as necessary or adapted to-- 
7,i7 reduce contamination1 or  7,,ii7   
control air flow1 temperature1 humidity1
 chemical purity1 or other environmental
 conditions or manufacturing tolerances4
  7e7 ,certain progress expenditure     
rules made applicable ,rules similar to 
the rules of subsections 7c77#d7 and 7d7
 of section #df 7as in effect on the day
 before the date of the enactment of the
 ,revenue ,reconciliation ,act of #aiij7
 shall apply for purposes of subsection 
7a74  7f7 ,treatment of credit ,the     
amount of the credit determined under   
this section with respect to any        
qualified semiconductor equipment placed
 in service before ,january #a1 #bjbg1  
or any qualified semiconductor          
manufacturing facility investment       
expenditures incurred before such date1 
shall be treated as a credit allowable  

under subpart ,c 7and not allowable     
under section #ch74  7g7 ,denial of     
double benefit  7#a7 ,reduction of basis
 ,if a credit is determined under this  
section with respect to any property1   
the basis of such property shall be     
reduced by the amount of the credit so  
determined4  7#b7 ,other credits ,no    
credit shall be allowed under any       
provision of this chapter with respect  
to any amount taken in account in       
determining the credit allowed to a     
taxpayer under this section4  7h7 ,rules
 relating to leased property ,for       
purposes of subsection 7a77#c71 rules   
similar to the rules under section      
#dh7;d7 7as in effect on the day before 
the date of the enactment of the        
,revenue ,reconciliation ,act of #aiij7 
shall apply4  7i7 ,disallowance ,no     
credit shall be allowed under this      
section with respect to any qualified   
semiconductor equipment which is used   
predominantly outside the ,united       
,states4  7j7 ,partnerships ,in the case

 of a credit under subsection 7a7 which 
is determined at the partnership level1 
with respect to any partner which is    
exempt from taxation under section      
#eja7;a71 such partner may elect to     
transfer their distributive share of    
such credit to any other partner in the 
partnership4  7k7 ,regulations ,the     
,secretary shall prescribe such         
regulations or other guidance as may be 
necessary to carry out the purposes of  
this section1 including any such        
measures as are deemed appropriate to   
avoid abuse or fraud with respect to the
 credit allowed under this section4  4  
7b7 ,tax on base erosion payments of    
taxpayers with substantial gross        
receipts ,section #ei;,a7b77#a77;,b77ii7
 of the ,internal ,revenue ,code of     
#aihf is amended-- 7#a7 in subclause    
7,,ii71 by striking the period at the   
end and inserting 1 plus1 and  7#b7 by  
adding at the end the following3        
7,,iii7 the credit determined under     
section #dh;,d for the taxable year4  4 

7c7 ,investment credit ,section #df of  
the ,internal ,revenue ,code of #aihf is
 amended by striking and at the end of  
paragraph 7#e71 by striking the period  
at the end of paragraph 7#f7 and        
inserting 1 and1 and by adding at the   
end the following new paragraph3  7#g7  
the qualifying semiconductor equipment  
credit4  4  7d7 ,clerical amendment ,the
 table of sections for subpart ,e of    
part ,,iv of subchapter ,a of chapter #a
 of the ,internal ,revenue ,code of     
#aihf is amended by inserting after the 
item relating to section #dh;,c the     
following new item3  ,sec4 #dh;,d4      
,qualifying semiconductor equipment     
credit4  4  7e7 ,effective date ,the    
amendments made by this section shall   
apply to any qualified semiconductor    
equipment 7as defined in subsection 7c7 
of section #dh;,d7 placed in service    
after the date of enactment of this     
,act1 or any qualified semiconductor    
manufacturing facility investment       
expenditure 7as defined in subsection   

7d7 of such section7 incurred after such
 date4  #c4 ,building ,united ,states   
capacity for verification and           
manufacturing of advanced               
microelectronics  7a7 ,program ,the     
,secretary of ,commerce1 acting through 
the ,director of the ,national          
,institute of ,standards and            
,technology1 shall carry out a program  
of research and development investment  
to enable advances and breakthroughs in 
measurement science1 standards1 material
 characterization1 instrumentation1     
testing1 and manufacturing capabilities 
that will accelerate the underlying     
research and development for design1    
development1 and manufacturability of   
next generation microelectronics and    
ensure the competitiveness and          
leadership of the ,united ,states within
 this sector4  7b7 ,components ,the     
program required by subsection 7a7 shall
 cover the following3 7#a7 ,advanced    
metrology and characterization for      
manufacturing of microchips using #c    

nanometer transistor processes or more  
advanced processes4  7#b7 ,metrology for
 security and supply chain verification4
  7#c7 ,creation of a ,manufacturing    
,,usa institute described in section    
#cd7;d7 of the ,national ,institute of  
,standards and ,technology ,act 7#ae    
,u4,s4,c4 #bghs7d77 that is focused on  
semiconductor manufacturing4 ,such      
institute may emphasize the following3  
7,a7 ,research to support the           
virtualization and automation of        
maintenance of semiconductor machinery4 
7,b7 ,development of new advanced test1 
assembly and packaging capabilities4    
7,c7 ,developing and deploying          
educational and skills training         
curricula needed to support the industry
 sector and ensure the ,u4,s4 can build 
and maintain a trusted and predictable  
talent pipeline4  7c7 ,authorization of 
appropriations ,there are authorized to 
be appropriated to the ,secretary       
amounts as follows3 7#a7 ,to carry out  
subsection 7b77#a71 #aj1jjj1jjj for each

 of fiscal years #bjba through #bjbe4   
7#b7 ,to carry out subsection 7b77#b71  
#aj1jjj1jjj for each of fiscal years    
#bjba through #bjbe4  7#c7 ,to carry out
 subsection 7b77#c71 #cj1jjj1jjj for    
each of fiscal years #bjba through      
#bjbe4  #d4 ,federal grants to match    
,state incentives  7a7 ,definitions ,in 
this section-- 7#a7 the term appropriate
 committees of ,congress means-- 7,a7   
the ,select ,committee on ,intelligence1
 the ,committee on ,commerce1 ,science1 
and ,transportation1 the ,committee on  
,foreign ,relations1 the ,committee on  
,armed ,services1 and the ,committee on 
,homeland ,security and ,governmental   
,affairs of the ,senate2 and  7,b7 the  
,permanent ,select ,committee on        
,intelligence1 the ,committee on ,energy
 and ,commerce1 the ,committee on       
,foreign ,affairs1 the ,committee on    
,armed ,services1 the ,committee on     
,science1 ,space1 and ,technology1 and  
the ,committee on ,homeland ,security of
 the ,house of ,representatives2  7#b7  

the term covered incentive-- 7,a7 means 
an incentive offered by a governmental  
entity to a private entity for the      
purposes of building within the         
jurisdiction of the governmental entity 
a fabrication 7or other essential7      
facility relating to the manufacturing  
of semiconductors2 and  7,b7 includes   
any tax incentive 7such as an incentive 
or reduction with respect to employment 
or payroll taxes or a tax abatement with
 respect to personal or real property71 
a workforce-related incentive 7including
 a grant agreement relating to workforce
 training or vocational education71 any 
concession with respect to real         
property1 and any other incentive       
determined appropriate by the           
,secretary1 in consultation with the    
,secretary of ,state2  7#c7 the term    
governmental entity means a ,state or   
local government2 and  7#d7 the term    
,secretary means the ,secretary of      
,commerce4  7b7 ,grants  7#a7 ,in       
general ,the ,secretary shall establish 

in the ,department of ,commerce a       
program that1 in accordance with the    
requirements of this section1 provides  
grants to governmental entities that    
offer covered incentives4  7#b7         
,procedure  7,a7 ,in general ,a         
governmental entity that offers a       
covered incentive and that desires to   
receive a grant under this subsection   
shall submit to the ,secretary an       
application that describes the covered  
incentive offered by the governmental   
entity4  7,b7 ,conditions for approval  
,the ,secretary shall approve an        
application submitted by a governmental 
entity under subparagraph 7,a7-- 7i7    
upon confirmation by the ,secretary that
 the private entity to which the        
governmental entity has offered the     
covered incentive to which the          
application relates has agreed to build 
in the applicable jurisdiction a        
facility described in subsection        
7a77#b77;,a72 and  7ii7 if the          
,secretary determines that building the 

facility described in clause 7i7 is in  
the interest of the ,united ,states4    
7#c7 ,amount ,the amount of a grant     
provided by the ,secretary to a         
governmental entity under this          
subsection shall be in an amount that is
 not less than the value of the         
applicable covered incentive offered by 
the governmental entity1 as determined  
by the ,secretary4  7#d7 ,clawback ,the 
,secretary shall recover the full amount
 of a grant made to a governmental      
entity under this subsection with       
respect to a covered incentive offered  
by the governmental entity if-- 7,a7 as 
of the date that is #e years after the  
date on which the ,secretary makes the  
grant1 the facility to which the covered
 incentive relates has not been         
completed2 or  7,b7 during the term of  
the grant1 the private entity to which  
the covered incentive was offered       
engages in any joint research or        
technology licensing effort-- 7i7 with  
the ,government of the ,people's        

,republic of ,china1 the ,government of 
the ,russian ,federation1 the           
,government of ,iran1 or the ,government
 of ,north ,korea2 and  7ii7 that       
relates to a sensitive technology or    
product1 as determined by the           
,secretary4  7c7 ,consultation and      
coordination required ,in carrying out  
the program established under subsection
 7b71 the ,secretary shall consult and  
coordinate with the ,secretary of       
,state4  7d7 ,,gao reviews ,the         
,comptroller ,general of the ,united    
,states shall-- 7#a7 not later than #b  
years after the date of enactment of    
this ,act1 and biennially thereafter    
until the date that is #aj years after  
that date of enactment1 conduct a review
 of the program established under       
subsection 7b71 which shall include a   
determination of the number of grants   
made under that program during the      
period covered by the review that failed
 to comply with a requirement under this
 section2 and  7#b7 submit to the       

appropriate committees of ,congress the 
results of each review conducted under  
paragraph 7#a74  7e7 ,trust ,fund  7#a7 
,establishment ,there is established in 
the ,treasury of the ,united ,states a  
trust fund 7referred to in this         
subsection as the ,trust ,fund71        
consisting of amounts transferred to the
 ,trust ,fund under paragraph 7#b7 and  
any amounts that may be credited to the 
,trust ,fund under paragraph 7#c74  7#b7
 ,transfer of amounts  7,a7 ,in general 
,subject to subparagraph 7,b71 the      
,secretary of the ,treasury shall       
transfer to the ,trust ,fund1 from the  
general fund of the ,treasury1 for      
fiscal year #bjba and each fiscal year  
thereafter1 an amount equivalent to the 
amount received into the general fund   
during that fiscal year and attributable
 to duties imposed under section #cja of
 the ,trade ,act of #aigd 7#ai ,u4,s4,c4
 #bdaa74  7,b7 ,limitations  7i7        
,limitation on transfers ,the amount    
transferred to the ,trust ,fund under   

subparagraph 7,a7 in a fiscal year may  
not exceed #aj1jjj1jjj1jjj4  7ii7       
,limitation on total balance ,the total 
amount in the ,trust ,fund at any one   
time may not exceed #aj1jjj1jjj1jjj4    
7,c7 ,frequency of transfers ,the       
,secretary shall transfer amounts       
required to be transferred to the ,trust
 ,fund under this paragraph not less    
frequently than quarterly from the      
general fund of the ,treasury to the    
,trust ,fund4  7#c7 ,investment of      
amounts  7,a7 ,investment of amounts    
,the ,secretary shall invest such       
portion of the ,trust ,fund as is not   
required to meet current withdrawals in 
interest-bearing obligations of the     
,united ,states or in obligations       
guaranteed as to both principal and     
interest by the ,united ,states4  7,b7  
,interest and proceeds ,the interest on1
 and the proceeds from the sale or      
redemption of1 any obligations held in  
the ,trust ,fund shall be credited to   
and form a part of the ,trust ,fund4    

7#d7 ,availability of amounts in ,trust 
,fund ,amounts in the ,trust ,fund shall
 be available1 as provided in advance in
 an appropriations ,act1 to the         
,secretary to make grants under this    
section4  #e4 ,department of ,defense   
support for semiconductor technologies  
and related technologies  7a7 ,,rdt,e   
and workforce training efforts  7#a7 ,in
 general ,the ,secretary of ,defense    
shall1 in consultation with the         
,secretary of ,commerce and the         
,secretary of ,labor1 establish and     
implement a priority in the use of      
amounts available to the ,department of 
,defense for research1 development1     
test1 and evaluation1 and for workforce 
training1 for programs1 projects1 and   
activities in connection with           
semiconductor technologies and related  
technologies4  7#b7 ,discharge ,the     
,secretary of ,defense shall carry out  
paragraph 7#a7 through the ,office of   
the ,under ,secretary of ,defense for   
,research and ,engineering or such other

 component of the ,department of        
,defense as the ,secretary considers    
appropriate4  7#c7 ,funding ,of the     
amount authorized to be appropriated for
 each fiscal year for the ,department of
 ,defense for research1 development1    
test1 and evaluation1 not less the      
#ej1jjj1jjj shall be available in such  
fiscal year for programs1 projects1 and 
activities described in paragraph 7#a7  
in furtherance of the priority required 
by that paragraph4  7b7 ,,dpa efforts   
7#a7 ,in general ,not later than #abj   
days after the date of the enactment of 
this ,act1 the ,president shall submit  
to ,congress a report on1 and shall     
commence implementation of1 a plan for  
use by the ,department of ,defense of   
authorities available in title ,,iii of 
the ,defense ,production ,act of #aiej  
7#ej ,u4,s4,c4 #deca et seq47 to        
establish and enhance a domestic        
production capability for semiconductor 
technologies and related technologies1  
if funding is available for that        

purpose4  7#b7 ,consultation ,the       
,president shall develop the plan       
required by paragraph 7#a7 in           
consultation with the ,secretary of     
,defense1 the ,secretary of ,state1 the 
,secretary of ,commerce1 and appropriate
 stakeholders in the private sector4    
#f4 ,department of ,commerce study on   
status of semiconductor technologies in 
the ,united ,states industrial base  7a7
 ,in general ,commencing not later than 
#ij days after the date of the enactment
 of this ,act1 the ,secretary of        
,commerce shall undertake a survey1     
using authorities in section #gje of the
 ,defense ,production ,act 7#ej         
,u4,s4,c4 #deee71 to assess the         
capabilities of the ,united ,states     
industrial base to support the national 
defense in light of the global nature of
 the supply chain and significant       
interdependencies between the ,united   
,states industrial base and the         
industrial base of foreign countries    
with respect to the manufacture and     

design of semiconductors4  7b7 ,response
 to survey ,the ,secretary shall ensure 
compliance with the survey from among   
all relevant potential respondents1     
including the following3 7#a7           
,corporations1 partnerships1            
associations1 or any other organized    
groups domiciled and with substantial   
operations in the ,united ,states4  7#b7
 ,corporations1 partnerships1           
associations1 or any other organized    
groups domiciled in the ,united ,states 
with operations outside the ,united     
,states4  7#c7 ,foreign domiciled       
corporations1 partnerships1             
associations1 or any other organized    
groups with substantial operations or   
business presence in1 or substantial    
revenues derived from1 the ,united      
,states4  7#d7 ,foreign domiciled       
corporations1 partnerships1             
associations1 or any other organized    
groups in defense treaty or assistance  
countries where the production of the   
entity concerned involves critical      

technologies covered by section #c4  7c7
 ,information requested ,the information
 sought from a responding entity        
pursuant to the survey required by      
subsection 7a7 shall include1 at        
minimum1 information on the following   
with respect to the manufacture or      
design of semiconductors by such entity3
 7#a7 ,an identification of the         
geographic scope of operations4  7#b7   
,information on relevant cost           
structures4  7#c7 ,an identification of 
types of semiconductor equipment in     
operation at such entity4  7#d7 ,an     
identification of all relevant raw      
materials and semi-finished goods and   
components sourced domestically and     
abroad by such entity4  7#e7            
,specifications of the semiconductors   
manufactured or designed by such entity1
 descriptions of the end-uses of such   
semiconductors1 and a description of any
 technical support provided to end-users
 of such semiconductors by such entity4 
7#f7 ,information on domestic and export

 market sales by such entity4  7#g7     
,information on the financial           
performance1 including income and       
expenditures1 of such entity4  7#h7 ,a  
list of all foreign and domestic        
subsidies1 and any other financial      
incentives1 received by such entity in  
each market in which such entity        
operates4  7#i7 ,a list of information  
requests from the ,people's ,republic of
 ,china to such entity1 and a           
description of the nature of each       
request and the type of information     
provided4  7#aj7 ,information on any    
joint ventures1 technology licensing    
agreements1 and cooperative research or 
production arrangements of such entity4 
7#aa7 ,a description of efforts by such 
entity to evaluate and control supply   
chain risks it faces4  7#ab7 ,a list and
 description of any sales1 licensing    
agreements1 or partnerships between such
 entity and the ,people's ,liberation   
,army or ,people's ,armed ,police1      
including any business relationships    

with entities through which such sales1 
licensing agreements1 or partnerships   
may occur4  #g4 ,funding for development
 and adoption of secure microelectronics
 and secure microelectronics supply     
chains  7a7 ,multilateral               
,microelectronics ,security ,fund  7#a7 
,establishment of fund ,there is        
established in the ,treasury of the     
,united ,states a trust fund1 to be     
known as the ,multilateral              
,microelectronics ,security ,fund 7in   
this section referred to as the ,fund71 
consisting of amounts deposited into the
 ,trust ,fund under paragraph 7#b7 and  
any amounts that may be credited to the 
,trust ,fund under paragraph 7#c74  7#b7
 ,authorization of appropriations ,there
 are authorized to be appropriated      
#gej1jjj1jjj to be deposited in the     
,fund4  7#c7 ,investment of amounts     
7,a7 ,investment of amounts ,the        
,secretary of the ,treasury shall invest
 such portion of the ,fund as is not    
required to meet current withdrawals in 

interest-bearing obligations of the     
,united ,states or in obligations       
guaranteed as to both principal and     
interest by the ,united ,states4  7,b7  
,interest and proceeds ,the interest on1
 and the proceeds from the sale or      
redemption of1 any obligations held in  
the ,fund shall be credited to and form 
a part of the ,fund4  7#d7 ,use of fund 
7,a7 ,in general ,subject to            
subparagraph 7,b71 amounts in the ,fund 
shall be available1 as provided in      
advance in an appropriations ,act1 to   
the ,secretary of ,state-- 7i7 to       
provide funding through the common      
funding mechanism described in          
subsection 7b77#a7 to support the       
development and adoption of secure      
microelectronics and secure             
microelectronics supply chains2 and     
7ii7 to otherwise carry out this        
section4  7,b7 ,availability contingent 
on international agreement ,amounts in  
the ,fund shall be available to the     
,secretary of ,state on and after the   

date on which the ,secretary enters into
 an agreement with the governments of   
countries that are partners of the      
,united ,states to participate in the   
common funding mechanism under paragraph
 7#a7 of subsection 7b7 and the         
commitments described in paragraph 7#b7 
of that subsection4  7#e7 ,availability 
of amounts  7,a7 ,in general ,amounts in
 the ,fund shall remain available       
through the end of the tenth fiscal year
 beginning after the date of the        
enactment of this ,act4  7,b7 ,remainder
 to treasury ,any amounts remaining in  
the ,fund after the end of the fiscal   
year described in subparagraph 7,a7     
shall be deposited in the general fund  
of the ,treasury4  7b7 ,common funding  
mechanism for development and adoption  
of secure microelectronics and secure   
microelectronics supply chains  7#a7 ,in
 general ,the ,secretary of ,state1 in  
consultation with the ,secretary of     
,commerce1 the ,secretary of ,defense1  
the ,secretary of ,homeland ,security1  

the ,secretary of the ,treasury1 and the
 ,director of ,national ,intelligence1  
shall seek to establish a common funding
 mechanism1 in coordination with the    
governments of countries that are       
partners of the ,united ,states1 that   
uses amounts from the ,fund1 and amounts
 committed by such governments1 to      
support the development and adoption of 
secure microelectronics and secure      
microelectronics supply chains4  7#b7   
,mutual commitments ,the ,secretary of  
,state1 in consultation with the ,united
 ,states ,trade ,representative and the 
,secretary of ,commerce1 shall seek to  
negotiate a set of mutual commitments   
with the governments of countries that  
are partners of the ,united ,states upon
 which to condition any expenditure of  
funds pursuant to the common funding    
mechanism described in paragraph 7#a74  
,such commitments shall1 at a minimum-- 
7,a7 establish transparency requirements
 for any subsidies or other financial   
benefits 7including revenue foregone7   

provided to microelectronics firms      
located in or outside such countries2   
7,b7 establish consistent policies with 
respect to countries that-- 7i7 are not 
participating in the common funding     
mechanism2 and  7ii7 do not meet        
transparency requirements established   
under subparagraph 7,a72  7,c7 promote  
harmonized treatment of microelectronics
 and verification processes for items   
being exported to a country considered a
 national security risk by a country    
participating in the common funding     
mechanism2  7,d7 establish consistent   
policies and common external policies to
 address nonmarket economies as the     
behavior of such countries pertains to  
microelectronics2 and  7,e7 align       
policies on supply chain integrity and  
microelectronics security4  7c7 ,annual 
report to congress ,not later than one  
year after the date of the enactment of 
this ,act1 and annually thereafter for  
each fiscal year during which amounts in
 the ,fund are available under          

subsection 7a77#c71 the ,secretary of   
,state shall submit to ,congress a      
report on the status of the             
implementation of this section that     
includes a description of-- 7#a7 any    
commitments made by the governments of  
countries that are partners of the      
,united ,states to providing funding for
 the common funding mechanism described 
in subsection 7b77#a7 and the specific  
amount so committed2  7#b7 the criteria 
established for expenditure of funds    
through the common funding mechanism2   
7#c7 how1 and to whom1 amounts have been
 expended from the ,fund2  7#d7 amounts 
remaining in the ,fund2  7#e7 the       
progress of the ,secretary of ,state    
toward entering into an agreement with  
the governments of countries that are   
partners of the ,united ,states to      
participate in the common funding       
mechanism and the commitments described 
in subsection 7b77#b72 and  7#f7 any    
additional authorities needed to enhance
 the effectiveness of the ,fund in      

achieving the security goals of the     
,united ,states4  #h4 ,advanced         
semiconductor research and design  7a7  
,appropriate committees of ,congress ,in
 this section1 the term appropriate     
committees of ,congress means-- 7#a7 the
 ,select ,committee on ,intelligence1   
the ,committee on ,commerce1 ,science1  
and ,transportation1 the ,committee on  
,foreign ,relations1 the ,committee on  
,armed ,services1 and the ,committee on 
,homeland ,security and ,governmental   
,affairs of the ,senate2 and  7#b7 the  
,permanent ,select ,committee on        
,intelligence1 the ,committee on ,energy
 and ,commerce1 the ,committee on       
,foreign ,affairs1 the ,committee on    
,armed ,services1 the ,committee on     
,science1 ,space1 and ,technology1 and  
the ,committee on ,homeland ,security of
 the ,house of ,representatives4  7b7   
,sense of ,congress ,it is the sense of 
,congress that the leadership of the    
,united ,states in semiconductor        
technology and innovation is critical to

 the economic growth and national       
security of the ,united ,states4  7c7   
,subcommittee on semiconductor          
leadership  7#a7 ,establishment required
 ,the ,president shall establish in the 
,national ,science and ,technology      
,council a subcommittee on matters      
relating to leadership of the ,united   
,states in semiconductor technology and 
innovation4  7#b7 ,duties ,the duties of
 the subcommittee established under     
paragraph 7#a7 are as follows3 7,a7     
,national strategy on semiconductor     
research  7i7 ,development ,in          
coordination with the ,secretary of     
,defense1 the ,secretary of ,energy1 the
 ,secretary of ,state1 the ,secretary of
 ,commerce1 the ,national ,science      
,foundation1 and the ,director of the   
,national ,institute of ,standards and  
,technology and in consultation with the
 semiconductor industry and academia1   
develop a national strategy on          
semiconductor research1 including       
guidance for the funding of research4   

7ii7 ,reporting and updates ,not less   
frequently than once every #e years1 to 
update the strategy developed under     
clause 7i7 and to submit the revised    
strategy to the appropriate committees  
of ,congress4  7,b7 ,fostering          
coordination of research and development
 ,to foster the coordination of         
semiconductor research and development4 
7d7 ,advanced ,packaging ,national      
,manufacturing ,institute  7#a7         
,authorization ,the ,secretary of       
,commerce may1 in coordination with the 
private sector1 establish in the        
,department of ,commerce an institute on
 advanced packaging and manufacturing4  
7#b7 ,functions ,the functions of the   
institute established under paragraph   
7#a7 shall be as follows3 7,a7 ,to      
establish ,united ,states leadership in 
advanced microelectronic packaging4     
7,b7 ,to promote standards development  
for such packaging4  7,c7 ,to foster    
public-private partnerships relevant to 
such packaging4  7,d7 ,to develop       

research and development programs to    
advance technology development relevant 
to such packaging4  7,e7 ,to establish  
an investment fund-- 7i7 to support a   
startup domestic advanced               
microelectronic packaging ecosystem2    
7ii7 to accelerate technology transfer2 
and  7iii7 to ensure domestic supply    
chains2 and  7,f7 to work with the      
,secretary of ,labor and the private    
sector to develop workforce training    
programs and apprenticeships in advanced
 microelectronic packaging capabilities4
  7e7 ,authorizations of appropriations 
7#a7 ,national ,semiconductor           
,technology ,center ,there is authorized
 to be appropriated to establish a      
national semiconductor technology center
 to conduct research and prototyping of 
advance semiconductors with             
participation of the private sector1 the
 ,secretary of ,defense1 the ,secretary 
of ,energy1 the ,national ,science      
,foundation1 and the ,director of the   
,national ,institute of ,standards and  

,technology1 #c1jjj1jjj1jjj for fiscal  
year #bjba1 with such amount to remain  
available for such purpose through      
fiscal year #bjcj4  7#b7 ,electronics   
,resurgence ,initiative ,there is       
authorized to be appropriated to carry  
out the ,electronics ,resurgence        
,initiative of the ,defense ,advanced   
,research ,projects ,agency1            
#b1jjj1jjj1jjj for fiscal year #bjba1   
with such amount to remain available for
 such purpose through fiscal year #bjbe4
  7#c7 ,semiconductor basic research at 
,national ,science ,foundation ,there is
 authorized to be appropriated to carry 
out programs at the ,national ,science  
,foundation on semiconductor basic      
research1 #c1jjj1jjj1jjj for fiscal year
 #bjba1 with such amount to remain      
available for such purpose through      
fiscal year #bjbe4  7#d7 ,semiconductor 
basic research at ,department of ,energy
 ,there is authorized to be appropriated
 to carry out programs at the           
,department of ,energy on semiconductor 

basic research1 #b1jjj1jjj1jjj for      
fiscal year #bjba1 with such amount to  
remain available for such purpose       
through fiscal year #bjbe4  7#e7        
,advanced ,packaging ,national          
,manufacturing ,institute ,there is     
authorized to be appropriated to carry  
out subsection 7d71 #e1jjj1jjj1jjj for  
fiscal year #bjba1 with such amount to  
remain available for such purpose       
through fiscal year #bjbe-- 7,a7 of     
which1 #ejj1jjj1jjj shall be available  
to carry out paragraph 7#b77;,d7 of such
 subsection2 and  7,b7 of which1        
#ejj1jjj1jjj shall be available to carry
 out paragraph 7#b77;,e7 of such        
subsection4