Bill > S1642

This bill amends the Internal Revenue Code to expand the advanced manufacturing investment credit to include a wide range of materials used in semiconductor manufacturing. The bill defines two main categories of semiconductor materials: direct production materials and indirect production materials. Direct production materials are those physically incorporated into finished semiconductors, such as substrates, thin film layers, packaging substrate materials, and bonding or interconnect materials. Indirect production materials are specialized materials used in semiconductor production, testing, or packaging but not physically incorporated into the final product, including process chemicals, photolithography materials, cleaning and preparation materials, testing equipment, packaging process materials, and fluid or gas handling materials. The bill requires the Secretary of the Treasury, in consultation with the Secretary of Commerce, to publish an annual list detailing the specifications and characteristics of qualifying materials and establishes a process for taxpayers to petition for interim determinations about materials not yet included on the list. The provisions of this bill will apply to property placed in service after the date of enactment, and it is officially known as the "Strengthening Essential Manufacturing and Industrial Investment Act" or the "SEMI Investment Act."

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/1642/all-info