Bill
Bill > HR4346
summary
Introduced
07/01/2021
07/01/2021
In Committee
Crossed Over
07/29/2021
07/29/2021
Passed
08/02/2022
08/02/2022
Dead
Signed/Enacted/Adopted
08/09/2022
08/09/2022
Introduced Session
117th Congress
Bill Summary
An Act Making appropriations for Legislative Branch for the fiscal year ending September 30, 2022, and for other purposes.
AI Summary
This bill, the CHIPS Act of 2022, aims to boost U.S. competitiveness and leadership in semiconductor manufacturing and technology development. Key provisions include:
- Establishing the "CHIPS for America Fund" to provide over $50 billion in funding for semiconductor manufacturing and research and development, including incentives to encourage investment in the U.S. and address supply chain vulnerabilities.
- Providing funding for the CHIPS for America Defense Fund to support semiconductor research and development for national security purposes.
- Establishing the CHIPS for America International Technology Security and Innovation Fund to support international information and communications technology security and semiconductor supply chain activities.
- Creating the CHIPS for America Workforce and Education Fund to support microelectronics workforce development activities at the National Science Foundation.
- Providing a 25% investment tax credit for semiconductor manufacturing equipment and facilities.
The bill aims to strengthen U.S. leadership in semiconductor technology, grow the domestic semiconductor workforce, and reduce reliance on foreign supply chains by incentivizing investment and production in the United States.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Became Public Law No: 117-167. (on 08/09/2022)
Official Document
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