119 HR 3204 IH: Building Advanced Semiconductors Investment Credit Act U.S. House of Representatives 2025-05-05 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS1st SessionH. R. 3204IN THE HOUSE OF REPRESENTATIVESMay 5, 2025Ms. 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 MeansA BILLTo 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.