117 S5604 IS: Strengthening Essential Manufacturing and Industrial Investment Act U.S. Senate 2024-12-19 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.

II118th CONGRESS2d SessionS. 5604IN THE SENATE OF THE UNITED STATESDecember 19 (legislative day, December 16), 2024Mrs. Blackburn (for herself, Mr. Bennet, Mr. Tillis, and Mr. Coons) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to expand the advanced manufacturing investment credit to include materials integral to the manufacturing of semiconductors or semiconductor manufacturing equipment.

1.

Short title

This Act may be cited as the Strengthening Essential Manufacturing and Industrial Investment Act or the SEMI Investment Act.

2.

Expansion of advanced manufacturing investment credit

(a)

In general

Paragraph (3) of section 48D(b) of the Internal Revenue Code of 1986 is amended to read as follows:(3)

Advanced manufacturing facility

The term advanced manufacturing facility means a facility for which the primary purpose is the manufacturing of—(A)semiconductors, (B)semiconductor manufacturing equipment, or(C)materials primarily used for, and integral to, the manufacturing of semiconductors or semiconductor manufacturing equipment..(b)

Effective date

The amendment made by this section shall take effect as if included in section 107 of the CHIPS Act of 2022 (Public Law 117–167).