,,ii #aaf? ,,congress #b;d ,session ,s4 #cicc ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,june #aj1 #bjbj,mr4 ,cornyn 7= himself1 ,mr4 ,w>n]1 ,mr4 ,ris*1 ,mr4 ,rubio1 & ,ms4 ,s9ema7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to re/ore ,am]ican lead]%ip 9 semiconductor manufactur+ by increas+ ,f$]al inc5tives 9 ord] to enable advanc$ rese>* & developm5t1 secure ! supply *a91 & ensure long-t]m national security & economic competitiv5ess4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,creat+ ,helpful ,inc5tives to ,produce ,semiconductors = ,am]ica ,act or ! ,,*ips = ,am]ica ,act4 #b4 ,semiconductor inve/m5t tax cr$it 7a7 ,e/abli%m5t ( cr$it ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] section #dh;,c ! foll[+3 #dh;,d4 ,qualify+ semiconductor equipm5t cr$it 7a7 ,9 g5]al ,= purposes ( section #df1 ! qualify+ semiconductor equipm5t cr$it = any taxable ye> is ! applicable p]c5tage (-- 7#a7 ! basis ( any qualifi$ semiconductor equipm5t plac$ 9 s]vice dur+ su* taxable ye>1 7#b7 any qualifi$ semiconductor manufactur+ facility inve/m5t exp5ditures incurr$ dur+ su* taxable ye>1 & 7#c7 any exp5ses incurr$ by ! taxpay] dur+ su* taxable ye> ) respect to ent]+ into a lease 7includ+ r5ewal or ext5sion ( a lease7 = qualifi$ semiconductor equipm5t4 7b7 ,applicable p]c5tage ,= purposes ( subsection 7a71 ! applicable p]c5tage is-- 7#a7 #dj p]c5t 9 ! case ( any qualifi$ semiconductor equipm5t :i* is plac$ 9 s]vice be=e ,janu>y #a1 #bjbe1 or any qualifi$ semiconductor manufactur+ facility inve/m5t exp5ditures or exp5ses describ$ 9 subsection 7a77#c7 :i* are incurr$ be=e su* date1 7#b7 #cj p]c5t 9 ! case ( any su* equipm5t :i* is plac$ 9 s]vice1 or any su* exp5ditures or exp5ses :i* are incurr$1 aft] ,decemb] #ca1 #bjbd1 & be=e ,janu>y #a1 #bjbf1 7#c7 #bj p]c5t 9 ! case ( any su* equipm5t :i* is plac$ 9 s]vice1 or any su* exp5ditures or exp5ses :i* are incurr$1 aft] ,decemb] #ca1 #bjbe1 & be=e ,janu>y #a1 #bjbg1 & 7#d7 #j p]c5t 9 ! case ( any su* equipm5t :i* is plac$ 9 s]vice1 or any su* exp5ditures or exp5ses :i* are incurr$1 aft] ,decemb] #ca1 #bjbf4 7c7 ,qualifi$ semiconductor equipm5t ,= purposes ( ?is section1 ! t]m qualifi$ semiconductor equipm5t means any prop]ty-- 7#a7 :i* has be5 id5tifi$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,comm]ce1 z ma*9]y or equipm5t t is design$ & us$ to-- 7,a7 manufacture or process semiconductors1 or 7,b7 p]=m rese>* ) respect to semiconductors1 7#b7 :i* is plac$ 9 s]vice 9 ! ,unit$ ,/ates by ! taxpay]1 & 7#c7 ) respect to :i* depreciation 7or amortization 9 lieu ( depreciation7 is all[able4 7d7 ,qualifi$ semiconductor manufactur+ facility inve/m5t exp5ditures ,= purposes ( ?is section1 ! t]m qualifi$ semiconductor manufactur+ facility inve/m5t exp5diture means any am\nt prop]ly *>geable to capital acc\nt-- 7#a7 = prop]ty = :i* depreciation is all[able "u section #afh1 & 7#b7 9 connection ) ! con/ruction or upgrad+ ( any facility locat$ 9 ! ,unit$ ,/ates :i* sub/antially op]ates qualifi$ semiconductor equipm5t1 includ+-- 7,a7 co/s relat+ to-- 7i7 acquir+ or upgrad+ an exi/+ build+1 or 7ii7 con/ruction ( a new build+1 & 7,b7 prop]ty su* z-- 7i7 integrat$ sy/ems1 fixtures1 pip+1 movable p>titions1 & light+1 & 7ii7 any prop]ty :i* has be5 id5tifi$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,comm]ce1 z necess>y or adapt$ to-- 7,i7 r$uce contam9ation1 or 7,,ii7 control air fl[1 temp]ature1 humidity1 *emical purity1 or o!r environm5tal conditions or manufactur+ tol]ances4 7e7 ,c]ta9 progress exp5diture rules made applicable ,rules simil> to ! rules ( subsections 7c77#d7 & 7d7 ( section #df 7z 9 effect on ! day be=e ! date ( ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij7 %all apply = purposes ( subsection 7a74 7f7 ,treatm5t ( cr$it ,! am\nt ( ! cr$it det]m9$ "u ?is section ) respect to any qualifi$ semiconductor equipm5t plac$ 9 s]vice be=e ,janu>y #a1 #bjbg1 or any qualifi$ semiconductor manufactur+ facility inve/m5t exp5ditures incurr$ be=e su* date1 %all be treat$ z a cr$it all[able "u subp>t ,c 7& n all[able "u section #ch74 7g7 ,d5ial ( d\ble b5efit 7#a7 ,r$uction ( basis ,if a cr$it is det]m9$ "u ?is section ) respect to any prop]ty1 ! basis ( su* prop]ty %all be r$uc$ by ! am\nt ( ! cr$it s det]m9$4 7#b7 ,o!r cr$its ,no cr$it %all be all[$ "u any provision ( ?is *apt] ) respect to any am\nt tak5 9 acc\nt 9 det]m9+ ! cr$it all[$ to a taxpay] "u ?is section4 7h7 ,rules relat+ to leas$ prop]ty ,= purposes ( subsection 7a77#c71 rules simil> to ! rules "u section #dh7;d7 7z 9 effect on ! day be=e ! date ( ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij7 %all apply4 7i7 ,disall[ance ,no cr$it %all be all[$ "u ?is section ) respect to any qualifi$ semiconductor equipm5t :i* is us$ pr$om9antly outside ! ,unit$ ,/ates4 7j7 ,p>tn]%ips ,9 ! case ( a cr$it "u subsection 7a7 :i* is det]m9$ at ! p>tn]%ip level1 ) respect to any p>tn] :i* is exempt f taxation "u section #eja7;a71 su* p>tn] may elect to transf] _! di/ributive %>e ( su* cr$it to any o!r p>tn] 9 ! p>tn]%ip4 7k7 ,regulations ,! ,secret>y %all prescribe su* regulations or o!r guidance z may be necess>y to c>ry out ! purposes ( ?is section1 includ+ any su* measures z are deem$ appropriate to avoid abuse or fraud ) respect to ! cr$it all[$ "u ?is section4 4 7b7 ,tax on base erosion paym5ts ( taxpay]s ) sub/antial gross receipts ,section #ei;,a7b77#a77;,b77ii7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 9 subclause 7,,ii71 by /rik+ ! p]iod at ! end & ins]t+ 1 plus1 & 7#b7 by add+ at ! end ! foll[+3 7,,iii7 ! cr$it det]m9$ "u section #dh;,d = ! taxable ye>4 4 7c7 ,inve/m5t cr$it ,section #df ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ & at ! end ( p>agraph 7#e71 by /rik+ ! p]iod at ! end ( p>agraph 7#f7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#g7 ! qualify+ semiconductor equipm5t cr$it4 4 7d7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] ! item relat+ to section #dh;,c ! foll[+ new item3 ,sec4 #dh;,d4 ,qualify+ semiconductor equipm5t cr$it4 4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to any qualifi$ semiconductor equipm5t 7z def9$ 9 subsection 7c7 ( section #dh;,d7 plac$ 9 s]vice aft] ! date ( enactm5t ( ?is ,act1 or any qualifi$ semiconductor manufactur+ facility inve/m5t exp5diture 7z def9$ 9 subsection 7d7 ( su* section7 incurr$ aft] su* date4 #c4 ,build+ ,unit$ ,/ates capacity = v]ification & manufactur+ ( advanc$ microelectronics 7a7 ,program ,! ,secret>y ( ,comm]ce1 act+ ?r\gh ! ,director ( ! ,national ,in/itute ( ,/&>ds & ,te*nology1 %all c>ry out a program ( rese>* & developm5t inve/m5t to enable advances & break?r\ghs 9 measurem5t sci5ce1 /&>ds1 mat]ial *>act]ization1 in/rum5tation1 te/+1 & manufactur+ capabilities t w accel]ate ! und]ly+ rese>* & developm5t = design1 developm5t1 & manufacturability ( next g5]ation microelectronics & ensure ! competitiv5ess & lead]%ip ( ! ,unit$ ,/ates )9 ?is sector4 7b7 ,compon5ts ,! program requir$ by subsection 7a7 %all cov] ! foll[+3 7#a7 ,advanc$ metrology & *>act]ization = manufactur+ ( micro*ips us+ #c nanomet] transi/or processes or m advanc$ processes4 7#b7 ,metrology = security & supply *a9 v]ification4 7#c7 ,creation ( a ,manufactur+ ,,usa in/itute describ$ 9 section #cd7;d7 ( ! ,national ,in/itute ( ,/&>ds & ,te*nology ,act 7#ae ,u4,s4,c4 #bghs7d77 t is focus$ on semiconductor manufactur+4 ,su* in/itute may emphasize ! foll[+3 7,a7 ,rese>* to support ! virtualization & automation ( ma9t5ance ( semiconductor ma*9]y4 7,b7 ,developm5t ( new advanc$ te/1 assembly & packag+ capabilities4 7,c7 ,develop+ & deploy+ educational & skills tra9+ curricula ne$$ to support ! indu/ry sector & ensure ! ,u4,s4 c build & ma9ta9 a tru/$ & pr$ictable tal5t pipel9e4 7c7 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ to ! ,secret>y am\nts z foll[s3 7#a7 ,to c>ry out subsection 7b77#a71 #aj1jjj1jjj = ea* ( fiscal ye>s #bjba ?r\gh #bjbe4 7#b7 ,to c>ry out subsection 7b77#b71 #aj1jjj1jjj = ea* ( fiscal ye>s #bjba ?r\gh #bjbe4 7#c7 ,to c>ry out subsection 7b77#c71 #cj1jjj1jjj = ea* ( fiscal ye>s #bjba ?r\gh #bjbe4 #d4 ,f$]al grants to mat* ,/ate inc5tives 7a7 ,def9itions ,9 ?is section-- 7#a7 ! t]m appropriate committees ( ,congress means-- 7,a7 ! ,select ,committee on ,intellig5ce1 ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation1 ! ,committee on ,=eign ,relations1 ! ,committee on ,arm$ ,s]vices1 & ! ,committee on ,homel& ,security & ,gov]nm5tal ,affairs ( ! ,s5ate2 & 7,b7 ! ,p]man5t ,select ,committee on ,intellig5ce1 ! ,committee on ,en]gy & ,comm]ce1 ! ,committee on ,=eign ,affairs1 ! ,committee on ,arm$ ,s]vices1 ! ,committee on ,sci5ce1 ,space1 & ,te*nology1 & ! ,committee on ,homel& ,security ( ! ,h\se ( ,repres5tatives2 7#b7 ! t]m cov]$ inc5tive-- 7,a7 means an inc5tive (f]$ by a gov]nm5tal entity to a private entity = ! purposes ( build+ )9 ! jurisdiction ( ! gov]nm5tal entity a fabrication 7or o!r ess5tial7 facility relat+ to ! manufactur+ ( semiconductors2 & 7,b7 includes any tax inc5tive 7su* z an inc5tive or r$uction ) respect to employm5t or payroll taxes or a tax abatem5t ) respect to p]sonal or real prop]ty71 a work=ce-relat$ inc5tive 7includ+ a grant agreem5t relat+ to work=ce tra9+ or vocational education71 any concession ) respect to real prop]ty1 & any o!r inc5tive det]m9$ appropriate by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,/ate2 7#c7 ! t]m gov]nm5tal entity means a ,/ate or local gov]nm5t2 & 7#d7 ! t]m ,secret>y means ! ,secret>y ( ,comm]ce4 7b7 ,grants 7#a7 ,9 g5]al ,! ,secret>y %all e/abli% 9 ! ,dep>tm5t ( ,comm]ce a program t1 9 accordance ) ! requirem5ts ( ?is section1 provides grants to gov]nm5tal entities t (f] cov]$ inc5tives4 7#b7 ,proc$ure 7,a7 ,9 g5]al ,a gov]nm5tal entity t (f]s a cov]$ inc5tive & t desires to receive a grant "u ?is subsection %all submit to ! ,secret>y an application t describes ! cov]$ inc5tive (f]$ by ! gov]nm5tal entity4 7,b7 ,conditions = approval ,! ,secret>y %all approve an application submitt$ by a gov]nm5tal entity "u subp>agraph 7,a7-- 7i7 ^u confirmation by ! ,secret>y t ! private entity to :i* ! gov]nm5tal entity has (f]$ ! cov]$ inc5tive to :i* ! application relates has agre$ to build 9 ! applicable jurisdiction a facility describ$ 9 subsection 7a77#b77;,a72 & 7ii7 if ! ,secret>y det]m9es t build+ ! facility describ$ 9 clause 7i7 is 9 ! int]e/ ( ! ,unit$ ,/ates4 7#c7 ,am\nt ,! am\nt ( a grant provid$ by ! ,secret>y to a gov]nm5tal entity "u ?is subsection %all be 9 an am\nt t is n less ?an ! value ( ! applicable cov]$ inc5tive (f]$ by ! gov]nm5tal entity1 z det]m9$ by ! ,secret>y4 7#d7 ,clawback ,! ,secret>y %all recov] ! full am\nt ( a grant made to a gov]nm5tal entity "u ?is subsection ) respect to a cov]$ inc5tive (f]$ by ! gov]nm5tal entity if-- 7,a7 z ( ! date t is #e ye>s aft] ! date on :i* ! ,secret>y makes ! grant1 ! facility to :i* ! cov]$ inc5tive relates has n be5 complet$2 or 7,b7 dur+ ! t]m ( ! grant1 ! private entity to :i* ! cov]$ inc5tive 0 (f]$ engages 9 any jo9t rese>* or te*nology lic5s+ ef=t-- 7i7 ) ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a1 ! ,gov]nm5t ( ! ,russian ,f$]ation1 ! ,gov]nm5t ( ,iran1 or ! ,gov]nm5t ( ,nor? ,korea2 & 7ii7 t relates to a s5sitive te*nology or product1 z det]m9$ by ! ,secret>y4 7c7 ,consultation & coord9ation requir$ ,9 c>ry+ out ! program e/abli%$ "u subsection 7b71 ! ,secret>y %all consult & coord9ate ) ! ,secret>y ( ,/ate4 7d7 ,,gao reviews ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all-- 7#a7 n lat] ?an #b ye>s aft] ! date ( enactm5t ( ?is ,act1 & bi5nially !reaft] until ! date t is #aj ye>s aft] t date ( enactm5t1 conduct a review ( ! program e/abli%$ "u subsection 7b71 :i* %all include a det]m9ation ( ! numb] ( grants made "u t program dur+ ! p]iod cov]$ by ! review t fail$ to comply ) a requirem5t "u ?is section2 & 7#b7 submit to ! appropriate committees ( ,congress ! results ( ea* review conduct$ "u p>agraph 7#a74 7e7 ,tru/ ,fund 7#a7 ,e/abli%m5t ,!re is e/abli%$ 9 ! ,treasury ( ! ,unit$ ,/ates a tru/ fund 7ref]r$ to 9 ?is subsection z ! ,tru/ ,fund71 consi/+ ( am\nts transf]r$ to ! ,tru/ ,fund "u p>agraph 7#b7 & any am\nts t may be cr$it$ to ! ,tru/ ,fund "u p>agraph 7#c74 7#b7 ,transf] ( am\nts 7,a7 ,9 g5]al ,subject to subp>agraph 7,b71 ! ,secret>y ( ! ,treasury %all transf] to ! ,tru/ ,fund1 f ! g5]al fund ( ! ,treasury1 = fiscal ye> #bjba & ea* fiscal ye> !reaft]1 an am\nt equival5t to ! am\nt receiv$ into ! g5]al fund dur+ t fiscal ye> & attributable to duties impos$ "u section #cja ( ! ,trade ,act ( #aigd 7#ai ,u4,s4,c4 #bdaa74 7,b7 ,limitations 7i7 ,limitation on transf]s ,! am\nt transf]r$ to ! ,tru/ ,fund "u subp>agraph 7,a7 9 a fiscal ye> may n exce$ #aj1jjj1jjj1jjj4 7ii7 ,limitation on total balance ,! total am\nt 9 ! ,tru/ ,fund at any "o "t may n exce$ #aj1jjj1jjj1jjj4 7,c7 ,frequ5cy ( transf]s ,! ,secret>y %all transf] am\nts requir$ to be transf]r$ to ! ,tru/ ,fund "u ?is p>agraph n less frequ5tly ?an qu>t]ly f ! g5]al fund ( ! ,treasury to ! ,tru/ ,fund4 7#c7 ,inve/m5t ( am\nts 7,a7 ,inve/m5t ( am\nts ,! ,secret>y %all inve/ su* portion ( ! ,tru/ ,fund z is n requir$ to meet curr5t )drawals 9 int]e/-be>+ obligations ( ! ,unit$ ,/ates or 9 obligations gu>ante$ z to bo? pr9cipal & int]e/ by ! ,unit$ ,/ates4 7,b7 ,int]e/ & proce$s ,! int]e/ on1 & ! proce$s f ! sale or r$emption (1 any obligations held 9 ! ,tru/ ,fund %all be cr$it$ to & =m a "p ( ! ,tru/ ,fund4 7#d7 ,availability ( am\nts 9 ,tru/ ,fund ,am\nts 9 ! ,tru/ ,fund %all be available1 z provid$ 9 advance 9 an appropriations ,act1 to ! ,secret>y to make grants "u ?is section4 #e4 ,dep>tm5t ( ,def5se support = semiconductor te*nologies & relat$ te*nologies 7a7 ,,rdt,e & work=ce tra9+ ef=ts 7#a7 ,9 g5]al ,! ,secret>y ( ,def5se %all1 9 consultation ) ! ,secret>y ( ,comm]ce & ! ,secret>y ( ,labor1 e/abli% & implem5t a priority 9 ! use ( am\nts available to ! ,dep>tm5t ( ,def5se = rese>*1 developm5t1 te/1 & evaluation1 & = work=ce tra9+1 = programs1 projects1 & activities 9 connection ) semiconductor te*nologies & relat$ te*nologies4 7#b7 ,dis*>ge ,! ,secret>y ( ,def5se %all c>ry out p>agraph 7#a7 ?r\gh ! ,(fice ( ! ,"u ,secret>y ( ,def5se = ,rese>* & ,eng9e]+ or su* o!r compon5t ( ! ,dep>tm5t ( ,def5se z ! ,secret>y consid]s appropriate4 7#c7 ,fund+ ,( ! am\nt au?oriz$ to be appropriat$ = ea* fiscal ye> = ! ,dep>tm5t ( ,def5se = rese>*1 developm5t1 te/1 & evaluation1 n less ! #ej1jjj1jjj %all be available 9 su* fiscal ye> = programs1 projects1 & activities describ$ 9 p>agraph 7#a7 9 fur!rance ( ! priority requir$ by t p>agraph4 7b7 ,,dpa ef=ts 7#a7 ,9 g5]al ,n lat] ?an #abj days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,presid5t %all submit to ,congress a report on1 & %all comm5ce implem5tation (1 a plan = use by ! ,dep>tm5t ( ,def5se ( au?orities available 9 title ,,iii ( ! ,def5se ,production ,act ( #aiej 7#ej ,u4,s4,c4 #deca et seq47 to e/abli% & enhance a dome/ic production capability = semiconductor te*nologies & relat$ te*nologies1 if fund+ is available = t purpose4 7#b7 ,consultation ,! ,presid5t %all develop ! plan requir$ by p>agraph 7#a7 9 consultation ) ! ,secret>y ( ,def5se1 ! ,secret>y ( ,/ate1 ! ,secret>y ( ,comm]ce1 & appropriate /akehold]s 9 ! private sector4 #f4 ,dep>tm5t ( ,comm]ce /udy on /atus ( semiconductor te*nologies 9 ! ,unit$ ,/ates indu/rial base 7a7 ,9 g5]al ,comm5c+ n lat] ?an #ij days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,comm]ce %all und]take a survey1 us+ au?orities 9 section #gje ( ! ,def5se ,production ,act 7#ej ,u4,s4,c4 #deee71 to assess ! capabilities ( ! ,unit$ ,/ates indu/rial base to support ! national def5se 9 light ( ! global nature ( ! supply *a9 & significant int]dep5d5cies betwe5 ! ,unit$ ,/ates indu/rial base & ! indu/rial base ( =eign c\ntries ) respect to ! manufacture & design ( semiconductors4 7b7 ,response to survey ,! ,secret>y %all ensure compliance ) ! survey f among all relevant pot5tial respond5ts1 includ+ ! foll[+3 7#a7 ,corporations1 p>tn]%ips1 associations1 or any o!r organiz$ gr\ps domicil$ & ) sub/antial op]ations 9 ! ,unit$ ,/ates4 7#b7 ,corporations1 p>tn]%ips1 associations1 or any o!r organiz$ gr\ps domicil$ 9 ! ,unit$ ,/ates ) op]ations outside ! ,unit$ ,/ates4 7#c7 ,=eign domicil$ corporations1 p>tn]%ips1 associations1 or any o!r organiz$ gr\ps ) sub/antial op]ations or bus9ess pres5ce 91 or sub/antial rev5ues d]iv$ f1 ! ,unit$ ,/ates4 7#d7 ,=eign domicil$ corporations1 p>tn]%ips1 associations1 or any o!r organiz$ gr\ps 9 def5se treaty or assi/ance c\ntries :]e ! production ( ! entity conc]n$ involves critical te*nologies cov]$ by section #c4 7c7 ,in=mation reque/$ ,! in=mation s\ght f a respond+ entity pursuant to ! survey requir$ by subsection 7a7 %all include1 at m9imum1 in=mation on ! foll[+ ) respect to ! manufacture or design ( semiconductors by su* entity3 7#a7 ,an id5tification ( ! geographic scope ( op]ations4 7#b7 ,in=mation on relevant co/ /ructures4 7#c7 ,an id5tification ( types ( semiconductor equipm5t 9 op]ation at su* entity4 7#d7 ,an id5tification ( all relevant raw mat]ials & semi-f9i%$ goods & compon5ts s\rc$ dome/ically & abroad by su* entity4 7#e7 ,specifications ( ! semiconductors manufactur$ or design$ by su* entity1 descriptions ( ! end-uses ( su* semiconductors1 & a description ( any te*nical support provid$ to end-us]s ( su* semiconductors by su* entity4 7#f7 ,in=mation on dome/ic & export m>ket sales by su* entity4 7#g7 ,in=mation on ! f9ancial p]=mance1 includ+ income & exp5ditures1 ( su* entity4 7#h7 ,a li/ ( all =eign & dome/ic subsidies1 & any o!r f9ancial inc5tives1 receiv$ by su* entity 9 ea* m>ket 9 :i* su* entity op]ates4 7#i7 ,a li/ ( in=mation reque/s f ! ,p's ,republic ( ,*9a to su* entity1 & a description ( ! nature ( ea* reque/ & ! type ( in=mation provid$4 7#aj7 ,in=mation on any jo9t v5tures1 te*nology lic5s+ agreem5ts1 & coop]ative rese>* or production arrangem5ts ( su* entity4 7#aa7 ,a description ( ef=ts by su* entity to evaluate & control supply *a9 risks x faces4 7#ab7 ,a li/ & description ( any sales1 lic5s+ agreem5ts1 or p>tn]%ips betwe5 su* entity & ! ,p's ,lib]ation ,army or ,p's ,arm$ ,police1 includ+ any bus9ess relation%ips ) entities ?r\gh :i* su* sales1 lic5s+ agreem5ts1 or p>tn]%ips may occur4 #g4 ,fund+ = developm5t & adoption ( secure microelectronics & secure microelectronics supply *a9s 7a7 ,multilat]al ,microelectronics ,security ,fund 7#a7 ,e/abli%m5t ( fund ,!re is e/abli%$ 9 ! ,treasury ( ! ,unit$ ,/ates a tru/ fund1 to be kn[n z ! ,multilat]al ,microelectronics ,security ,fund 79 ?is section ref]r$ to z ! ,fund71 consi/+ ( am\nts deposit$ into ! ,tru/ ,fund "u p>agraph 7#b7 & any am\nts t may be cr$it$ to ! ,tru/ ,fund "u p>agraph 7#c74 7#b7 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ #gej1jjj1jjj to be deposit$ 9 ! ,fund4 7#c7 ,inve/m5t ( am\nts 7,a7 ,inve/m5t ( am\nts ,! ,secret>y ( ! ,treasury %all inve/ su* portion ( ! ,fund z is n requir$ to meet curr5t )drawals 9 int]e/-be>+ obligations ( ! ,unit$ ,/ates or 9 obligations gu>ante$ z to bo? pr9cipal & int]e/ by ! ,unit$ ,/ates4 7,b7 ,int]e/ & proce$s ,! int]e/ on1 & ! proce$s f ! sale or r$emption (1 any obligations held 9 ! ,fund %all be cr$it$ to & =m a "p ( ! ,fund4 7#d7 ,use ( fund 7,a7 ,9 g5]al ,subject to subp>agraph 7,b71 am\nts 9 ! ,fund %all be available1 z provid$ 9 advance 9 an appropriations ,act1 to ! ,secret>y ( ,/ate-- 7i7 to provide fund+ ?r\gh ! common fund+ me*anism describ$ 9 subsection 7b77#a7 to support ! developm5t & adoption ( secure microelectronics & secure microelectronics supply *a9s2 & 7ii7 to o!rwise c>ry out ?is section4 7,b7 ,availability cont+5t on int]national agreem5t ,am\nts 9 ! ,fund %all be available to ! ,secret>y ( ,/ate on & aft] ! date on :i* ! ,secret>y ent]s into an agreem5t ) ! gov]nm5ts ( c\ntries t are p>tn]s ( ! ,unit$ ,/ates to p>ticipate 9 ! common fund+ me*anism "u p>agraph 7#a7 ( subsection 7b7 & ! commitm5ts describ$ 9 p>agraph 7#b7 ( t subsection4 7#e7 ,availability ( am\nts 7,a7 ,9 g5]al ,am\nts 9 ! ,fund %all rema9 available ?r\gh ! end ( ! t5? fiscal ye> beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 7,b7 ,rema9d] to treasury ,any am\nts rema9+ 9 ! ,fund aft] ! end ( ! fiscal ye> describ$ 9 subp>agraph 7,a7 %all be deposit$ 9 ! g5]al fund ( ! ,treasury4 7b7 ,common fund+ me*anism = developm5t & adoption ( secure microelectronics & secure microelectronics supply *a9s 7#a7 ,9 g5]al ,! ,secret>y ( ,/ate1 9 consultation ) ! ,secret>y ( ,comm]ce1 ! ,secret>y ( ,def5se1 ! ,secret>y ( ,homel& ,security1 ! ,secret>y ( ! ,treasury1 & ! ,director ( ,national ,intellig5ce1 %all seek to e/abli% a common fund+ me*anism1 9 coord9ation ) ! gov]nm5ts ( c\ntries t are p>tn]s ( ! ,unit$ ,/ates1 t uses am\nts f ! ,fund1 & am\nts committ$ by su* gov]nm5ts1 to support ! developm5t & adoption ( secure microelectronics & secure microelectronics supply *a9s4 7#b7 ,mutual commitm5ts ,! ,secret>y ( ,/ate1 9 consultation ) ! ,unit$ ,/ates ,trade ,repres5tative & ! ,secret>y ( ,comm]ce1 %all seek to negotiate a set ( mutual commitm5ts ) ! gov]nm5ts ( c\ntries t are p>tn]s ( ! ,unit$ ,/ates ^u :i* to condition any exp5diture ( funds pursuant to ! common fund+ me*anism describ$ 9 p>agraph 7#a74 ,su* commitm5ts %all1 at a m9imum-- 7,a7 e/abli% transp>5cy requirem5ts = any subsidies or o!r f9ancial b5efits 7includ+ rev5ue =egone7 provid$ to microelectronics firms locat$ 9 or outside su* c\ntries2 7,b7 e/abli% consi/5t policies ) respect to c\ntries t-- 7i7 are n p>ticipat+ 9 ! common fund+ me*anism2 & 7ii7 d n meet transp>5cy requirem5ts e/abli%$ "u subp>agraph 7,a72 7,c7 promote h>moniz$ treatm5t ( microelectronics & v]ification processes = items be+ export$ to a c\ntry consid]$ a national security risk by a c\ntry p>ticipat+ 9 ! common fund+ me*anism2 7,d7 e/abli% consi/5t policies & common ext]nal policies to address nonm>ket economies z ! behavior ( su* c\ntries p]ta9s to microelectronics2 & 7,e7 align policies on supply *a9 integrity & microelectronics security4 7c7 ,annual report to congress ,n lat] ?an "o ye> aft] ! date ( ! enactm5t ( ?is ,act1 & annually !reaft] = ea* fiscal ye> dur+ :i* am\nts 9 ! ,fund are available "u subsection 7a77#c71 ! ,secret>y ( ,/ate %all submit to ,congress a report on ! /atus ( ! implem5tation ( ?is section t includes a description (-- 7#a7 any commitm5ts made by ! gov]nm5ts ( c\ntries t are p>tn]s ( ! ,unit$ ,/ates to provid+ fund+ = ! common fund+ me*anism describ$ 9 subsection 7b77#a7 & ! specific am\nt s committ$2 7#b7 ! crit]ia e/abli%$ = exp5diture ( funds ?r\gh ! common fund+ me*anism2 7#c7 h[1 & to :om1 am\nts h be5 exp5d$ f ! ,fund2 7#d7 am\nts rema9+ 9 ! ,fund2 7#e7 ! progress ( ! ,secret>y ( ,/ate t[>d ent]+ into an agreem5t ) ! gov]nm5ts ( c\ntries t are p>tn]s ( ! ,unit$ ,/ates to p>ticipate 9 ! common fund+ me*anism & ! commitm5ts describ$ 9 subsection 7b77#b72 & 7#f7 any additional au?orities ne$$ to enhance ! effectiv5ess ( ! ,fund 9 a*iev+ ! security goals ( ! ,unit$ ,/ates4 #h4 ,advanc$ semiconductor rese>* & design 7a7 ,appropriate committees ( ,congress ,9 ?is section1 ! t]m appropriate committees ( ,congress means-- 7#a7 ! ,select ,committee on ,intellig5ce1 ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation1 ! ,committee on ,=eign ,relations1 ! ,committee on ,arm$ ,s]vices1 & ! ,committee on ,homel& ,security & ,gov]nm5tal ,affairs ( ! ,s5ate2 & 7#b7 ! ,p]man5t ,select ,committee on ,intellig5ce1 ! ,committee on ,en]gy & ,comm]ce1 ! ,committee on ,=eign ,affairs1 ! ,committee on ,arm$ ,s]vices1 ! ,committee on ,sci5ce1 ,space1 & ,te*nology1 & ! ,committee on ,homel& ,security ( ! ,h\se ( ,repres5tatives4 7b7 ,s5se ( ,congress ,x is ! s5se ( ,congress t ! lead]%ip ( ! ,unit$ ,/ates 9 semiconductor te*nology & innovation is critical to ! economic gr[? & national security ( ! ,unit$ ,/ates4 7c7 ,subcommittee on semiconductor lead]%ip 7#a7 ,e/abli%m5t requir$ ,! ,presid5t %all e/abli% 9 ! ,national ,sci5ce & ,te*nology ,c\ncil a subcommittee on matt]s relat+ to lead]%ip ( ! ,unit$ ,/ates 9 semiconductor te*nology & innovation4 7#b7 ,duties ,! duties ( ! subcommittee e/abli%$ "u p>agraph 7#a7 are z foll[s3 7,a7 ,national /rategy on semiconductor rese>* 7i7 ,developm5t ,9 coord9ation ) ! ,secret>y ( ,def5se1 ! ,secret>y ( ,en]gy1 ! ,secret>y ( ,/ate1 ! ,secret>y ( ,comm]ce1 ! ,national ,sci5ce ,f\ndation1 & ! ,director ( ! ,national ,in/itute ( ,/&>ds & ,te*nology & 9 consultation ) ! semiconductor indu/ry & academia1 develop a national /rategy on semiconductor rese>*1 includ+ guidance = ! fund+ ( rese>*4 7ii7 ,report+ & updates ,n less frequ5tly ?an once e #e ye>s1 to update ! /rategy develop$ "u clause 7i7 & to submit ! revis$ /rategy to ! appropriate committees ( ,congress4 7,b7 ,fo/]+ coord9ation ( rese>* & developm5t ,to fo/] ! coord9ation ( semiconductor rese>* & developm5t4 7d7 ,advanc$ ,packag+ ,national ,manufactur+ ,in/itute 7#a7 ,au?orization ,! ,secret>y ( ,comm]ce may1 9 coord9ation ) ! private sector1 e/abli% 9 ! ,dep>tm5t ( ,comm]ce an in/itute on advanc$ packag+ & manufactur+4 7#b7 ,functions ,! functions ( ! in/itute e/abli%$ "u p>agraph 7#a7 %all be z foll[s3 7,a7 ,to e/abli% ,unit$ ,/ates lead]%ip 9 advanc$ microelectronic packag+4 7,b7 ,to promote /&>ds developm5t = su* packag+4 7,c7 ,to fo/] public-private p>tn]%ips relevant to su* packag+4 7,d7 ,to develop rese>* & developm5t programs to advance te*nology developm5t relevant to su* packag+4 7,e7 ,to e/abli% an inve/m5t fund-- 7i7 to support a />tup dome/ic advanc$ microelectronic packag+ ecosy/em2 7ii7 to accel]ate te*nology transf]2 & 7iii7 to ensure dome/ic supply *a9s2 & 7,f7 to "w ) ! ,secret>y ( ,labor & ! private sector to develop work=ce tra9+ programs & appr5tice%ips 9 advanc$ microelectronic packag+ capabilities4 7e7 ,au?orizations ( appropriations 7#a7 ,national ,semiconductor ,te*nology ,c5t] ,!re is au?oriz$ to be appropriat$ to e/abli% a national semiconductor te*nology c5t] to conduct rese>* & prototyp+ ( advance semiconductors ) p>ticipation ( ! private sector1 ! ,secret>y ( ,def5se1 ! ,secret>y ( ,en]gy1 ! ,national ,sci5ce ,f\ndation1 & ! ,director ( ! ,national ,in/itute ( ,/&>ds & ,te*nology1 #c1jjj1jjj1jjj = fiscal ye> #bjba1 ) su* am\nt to rema9 available = su* purpose ?r\gh fiscal ye> #bjcj4 7#b7 ,electronics ,resurg5ce ,initiative ,!re is au?oriz$ to be appropriat$ to c>ry out ! ,electronics ,resurg5ce ,initiative ( ! ,def5se ,advanc$ ,rese>* ,projects ,ag5cy1 #b1jjj1jjj1jjj = fiscal ye> #bjba1 ) su* am\nt to rema9 available = su* purpose ?r\gh fiscal ye> #bjbe4 7#c7 ,semiconductor basic rese>* at ,national ,sci5ce ,f\ndation ,!re is au?oriz$ to be appropriat$ to c>ry out programs at ! ,national ,sci5ce ,f\ndation on semiconductor basic rese>*1 #c1jjj1jjj1jjj = fiscal ye> #bjba1 ) su* am\nt to rema9 available = su* purpose ?r\gh fiscal ye> #bjbe4 7#d7 ,semiconductor basic rese>* at ,dep>tm5t ( ,en]gy ,!re is au?oriz$ to be appropriat$ to c>ry out programs at ! ,dep>tm5t ( ,en]gy on semiconductor basic rese>*1 #b1jjj1jjj1jjj = fiscal ye> #bjba1 ) su* am\nt to rema9 available = su* purpose ?r\gh fiscal ye> #bjbe4 7#e7 ,advanc$ ,packag+ ,national ,manufactur+ ,in/itute ,!re is au?oriz$ to be appropriat$ to c>ry out subsection 7d71 #e1jjj1jjj1jjj = fiscal ye> #bjba1 ) su* am\nt to rema9 available = su* purpose ?r\gh fiscal ye> #bjbe-- 7,a7 ( :i*1 #ejj1jjj1jjj %all be available to c>ry out p>agraph 7#b77;,d7 ( su* subsection2 & 7,b7 ( :i*1 #ejj1jjj1jjj %all be available to c>ry out p>agraph 7#b77;,e7 ( su* subsection4