Bill > HR3204

This bill proposes to increase and extend the Advanced Manufacturing Investment Credit (a tax credit designed to incentivize investments in semiconductor manufacturing) by raising the credit percentage from 25% to 35% and extending the credit period from December 31, 2026, to December 31, 2030. The bill, known as the Building Advanced Semiconductors Investment Credit Act (BASIC ACT), amends the Internal Revenue Code of 1986 to provide more robust financial support for semiconductor manufacturing investments in the United States. These changes are intended to encourage domestic semiconductor production, which has become increasingly important for national economic and technological competitiveness. The amendments will apply to property placed in service after the date of the bill's enactment, meaning businesses investing in semiconductor manufacturing facilities can benefit from the increased tax credit for new investments made from that point forward.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/3204/all-info