SEMI Investment Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The Strengthening Essential Manufacturing and Industrial Investment Act, or SEMI Investment Act, amends the Internal Revenue Code to expand and extend an existing tax credit for investments in advanced manufacturing facilities. Specifically, it broadens the definition of ‘advanced manufacturing facility’ to include those involved in the production of semiconductors, semiconductor equipment, and semiconductor materials. The bill also clarifies what constitutes ‘semiconductor materials,’ encompassing both direct and indirect production materials used in the manufacturing process, and extends the period for which this credit is available.
Key provisions
- Expands the definition of ‘advanced manufacturing facility’ to include semiconductor manufacturers.
- Defines ‘semiconductor materials’ as direct and indirect production materials used in semiconductor manufacturing.
- Lists specific examples of direct production materials, such as substrates, thin films, and bonding materials.
- Lists specific examples of indirect production materials, such as process chemicals and testing equipment.
- Requires the Secretary of Commerce to publish a list of qualifying materials annually.
- Allows taxpayers to petition the Secretary for a determination on material eligibility.
- Extends the credit period from December 31, 2026, to December 31, 2031.
- Specifies that the changes apply to property placed in service after the date of enactment.
Who is affected
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Sponsors
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12 on record
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Cosponsors
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