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United States CHIPS and Science Act of 2022 (Public Law 117-167): Division A CHIPS Act of 2022 Semiconductor Manufacturing Incentives, CHIPS for America Fund, Semiconductor Incentives with Foreign Manufacturing Expansion Restrictions, Opportunity and Inclusion, Division B Department of Energy Science Programs, and National Science Foundation Technology Innovation and Partnerships

The CHIPS and Science Act of 2022, Public Law 117-167 of 9 August 2022, is the principal federal statute providing 52 billion dollars in semiconductor…

What United States CHIPS and Science Act of 2022 (Public Law 117-167): Division A CHIPS Act of 2022 Semiconductor Manufacturing Incentives, CHIPS for America Fund, Semiconductor Incentives with Foreign Manufacturing Expansion Restrictions, Opportunity and Inclusion, Division B Department of Energy Science Programs, and National Science Foundation Technology Innovation and Partnerships requires

The CHIPS and Science Act of 2022, Public Law 117-167 of 9 August 2022, is the principal federal statute providing 52 billion dollars in semiconductor manufacturing incentives and authorizing the federal advanced manufacturing investment tax credit at 25 per cent for qualifying semiconductor manufacturing property, with national security guardrails restricting recipients from expanding semiconductor manufacturing capacity in countries of concern, and is administered by the Department of Commerce CHIPS Program Office, the Department of the Treasury Internal Revenue Service, the Department of Energy, and the National Science Foundation. CHIPS and Science Act, Division A (the CHIPS Act of 2022) establishes semiconductor manufacturing incentives through federal financial assistance to covered entities for fabrication, production, and research activities. CHIPS and Science Act, section 102 creates the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Fund with 24 billion dollars appropriated for fiscal year 2022, allocated to semiconductor manufacturing incentives, research and development advancement, and workforce development. CHIPS and Science Act, section 103 amends eligibility criteria, adds mature technology node support with 2 billion dollars earmarked, and establishes expansion restrictions on foreign semiconductor manufacturing for recipients including the requirement that recipients enter into agreements not to engage in any significant transaction involving the material expansion of semiconductor manufacturing capacity in countries of concern (including China, Russia, Iran, and North Korea) for 10 years from the date of award. CHIPS and Science Act, section 104 directs the Department of Commerce to establish activities promoting economically disadvantaged individuals, minority-owned, veteran-owned, and women-owned business participation. CHIPS and Science Act, Title I of Division B (Department of Energy Science for the Future) authorizes programs in basic energy sciences, fusion research, physics, and laboratory infrastructure. CHIPS and Science Act, Title III of Division B (National Science Foundation for the Future) establishes STEM education, broadening participation initiatives, research security office, and the new Directorate for Technology, Innovation, and Partnerships. The Act also enacts the Advanced Manufacturing Investment Tax Credit at Internal Revenue Code section 48D. The Act is the controlling federal instrument for semiconductor manufacturing incentives and the foreign manufacturing expansion restrictions on recipients.

Pillar: Trade Compliance & Export Controls · Authority: United States Government - Department of Commerce CHIPS Program Office, Department of the Treasury Internal Revenue Service, Department of Energy, and National Science Foundation · Version: 1.0.0 · Last updated:

Primary source: https://www.govinfo.gov/content/pkg/PLAW-117publ167/html/PLAW-117publ167.htm

SHA-256 integrity: ecf42b61564a40e01268b803d938f5830a7483aaa6bef558584c9ec8403029fb

Primary Citations — 8 traced to source

  • CHIPS and Science Act, Division A - CHIPS Act of 2022 (semiconductor manufacturing incentives framework).
  • CHIPS and Science Act, section 102 - CHIPS for America Fund with 24 billion dollars FY2022 appropriation.

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