,,ii #aai? ,,congress #b;d ,session ,s4 #efhi ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,octob] #ae1 #bjbf,mr4 ,mor5o1 "u au?ority ( ! ord] ( ! ,s5ate ( ,septemb] #cj1 #bjbf1 introduc$ ! foll[+ bill2 :i* 0 ord]$ read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to prohibit ,f$]al & ,/ate inc5tives = ! developm5t or comm]cial op]ations ( data c5t]s4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,recaptur+ ,excessive ,corporate ,l>gesse ?r\gh ,acc\ntability & ,inc5tive ,measures ,act or ! ,,reclaim ,act4 #b4 ,prohibition on inc5tives = cov]$ data c5t]s 7a7 ,no ,f$]al inc5tives ,a cov]$ data c5t] 7z def9$ 9 section #ejjj;,e7b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z add$ by subsection 7b77 %all n be eligible = any ,f$]al grant1 loan1 loan gu>antee1 coop]ative agreem5t1 tax cr$it or d$uction1 exclusion1 exemption1 abatem5t1 or o!r =m ( ,f$]al f9ancial assi/ance or tax inc5tive = ! developm5t or comm]cial op]ations ( su* cov]$ data c5t]4 7b7 ,excise tax on prohibit$ /ate & local inc5tives 7#a7 ,9 g5]al ,subtitle ,d ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new *apt]3 #ej;,b ,prohibit$ /ate & local inc5tives = data c5t]s ,sec4 #ejjj;,e4 ,prohibit$ /ate & local inc5tives = data c5t]s4 #ejjj;,e4 ,prohibit$ /ate & local inc5tives = data c5t]s 7a7 ,9 g5]al ,9 ! case ( any cov]$ data c5t]1 !re is impos$ a tax 9 an am\nt equal to #ajj p]c5t ( ! am\nt ( any prohibit$ ,/ate or local inc5tive receiv$ by ! data c5t] op]ator dur+ ! taxable ye> ) respect to su* data c5t]4 7b7 ,def9itions ,9 ?is section-- 7#a7 ,artificial intellig5ce ,! t]m artificial intellig5ce has ! mean+ giv5 su* t]m 9 section #ejjb ( ! ,national ,artificial ,intellig5ce ,initiative ,act ( #bjbj 7#ae ,u4,s4,c4 #idja74 7#b7 ,cov]$ data c5t] 7,a7 ,9 g5]al ,subject to subp>agraph 7,b71 ! t]m cov]$ data c5t] means any facility or integrat$ campus ( facilities-- 7i7 t has or is design$ to h a contract$ peak p[] dem& ( n less ?an #ajj megawatts1 & 7ii7 )9 :i* n less ?an #ej p]c5t ( ! in/all$ compute accel]ators are ,,ai accel]ator *ips attribut$ to artificial intellig5ce tra9+1 f9e-tun+1 or inf]5ce4 7,b7 ,regulations 7i7 ,9 g5]al ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is section1 ! ,secret>y 79 conjunction ) ! ,secret>y ( ,comm]ce7 %all promulgate regulations t def9e ! t]m ,,ai accel]ator *ip = purposes ( subp>agraph 7,a77ii74 7ii7 ,requir$ consid]ations ,9 promulgat+ ! regulations requir$ "u clause 7i71 ! ,secret>y 79 conjunction ) ! ,secret>y ( ,comm]ce7 %all consid] :e!r ! def9ition ( ! t]m ,,ai accel]ator *ip %\ld include graphics process+ units1 t5sor process+ units1 application-specific integrat$ circuits1 & o!r semiconductor devices design$ prim>ily = artificial intellig5ce tra9+ or inf]5ce4 7iii7 ,adju/m5ts ,! ,secret>y 79 conjunction ) ! ,secret>y ( ,comm]ce7 may promulgate regulations-- 7,i7 adju/+ ! ?re%olds describ$ 9 clauses 7i7 & 7ii7 ( subp>agraph 7,a7 = high-d5sity facilities optimiz$ = artificial intellig5ce1 & 7,,ii7 exclud+ de m9imis comput+ sites sitt+ on ! edge ( ^? ?re%olds4 7#c7 ,data c5t] op]ator ,! t]m data c5t] op]ator means ! p]son t enjoys ! economic b5efits f1 & be>s a majority ( ! economic burd5s relat$ to1 own]%ip ( ! cov]$ data c5t]4 7#d7 ,prohibit$ ,/ate or local inc5tive ,! t]m prohibit$ ,/ate or local inc5tive means any ,/ate or local grant1 loan1 loan gu>antee1 coop]ative agreem5t1 tax cr$it or d$uction1 exclusion1 exemption1 abatem5t1 or o!r =m ( ,/ate or local f9ancial assi/ance or tax inc5tive = ! developm5t or comm]cial op]ations ( a cov]$ data c5t]4 7c7 ,regulations & guidance ,n lat] ?an ! date t is #ab mon?s aft] ! date ( enactm5t ( ?is section1 ! ,secret>y %all issue su* regulations or o!r guidance z may be necess>y or appropriate to c>ry out ! purposes ( ?is section1 includ+ any regulations or guidance = purposes (-- 7#a7 det]m9+ ! value ( any prohibit$ ,/ate or local inc5tive1 7#b7 coord9at+ ! tax impos$ "u subsection 7a7 ) any o!r relevant ,f$]al tax liability associat$ ) a cov]$ data c5t]1 includ+ rules to prev5t d\ble taxation or d\ble c\nt+ ) respect to any prohibit$ ,/ate or local inc5tive1 & 7#c7 ! tim+ ( recognition ( a prohibit$ ,/ate or local inc5tive z receiv$1 includ+ rules address+ inc5tives receiv$ 9 in/allm5ts or cont+5t on future p]=mance4 4 7#b7 ,cl]ical am5dm5t ,! table ( *apt]s = subtitle ,d ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] ! item relat+ to *apt] #ej;,a ! foll[+ new item3 ,*apt] #ej;,b--,prohibit$ /ate & local inc5tives = data c5t]s 4 7c7 ,s5se ( ,congress ,x is ! s5se ( ,congress t ,/ates & political subdivisions !re( %\ld promptly repeal or re=m any tax inc5tive programs t are specific to data c5t]s 9 ord] to re/ore tax neutrality1 protect public rev5ues1 & elim9ate di/ortions 9 bus9ess location decisions t disadvantage dome/ic manufactur+ & o!r job-creat+ inve/m5ts4 7d7 ,effective dates ,! provisions ( ?is section1 & any am5dm5t to ! ,int]nal ,rev5ue ,code ( #aihf made by ?is section1 %all take effect on ! day aft] ! date on :i* f9al regulations are issu$ by ! ,secret>y pursuant to section #ejjj;,e7c7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by subsection 7b774 #c4 ,sev]ability ,if any provision ( ?is ,act or am5dm5t made by ?is ,act or ! application ( su* provision or am5dm5t to any p]son or circum/ance is held to be uncon/itutional1 ! rema9d] ( ?is ,act & ! am5dm5ts made by ?is ,act1 & ! application ( ! provision or am5dm5t to any o!r p]son or circum/ance1 %all n be affect$4