SEMI Investment Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The Strengthening Essential Manufacturing and Industrial Investment Act, or SEMI Investment Act, expands a tax credit for investments in advanced manufacturing. Specifically, it broadens the definition of ‘advanced manufacturing facility’ to include facilities that manufacture semiconductors, semiconductor equipment, or semiconductor materials. The bill also clarifies what qualifies as ‘semiconductor materials,’ encompassing both direct (like substrates and thin films) and indirect (like process chemicals and testing materials) production components, and requires the Secretary of Commerce to maintain a list of qualifying materials.
Key provisions
- Expands the advanced manufacturing investment credit to include semiconductor manufacturing.
- Defines ‘advanced manufacturing facility’ as a facility producing semiconductors, equipment, or materials.
- Broadly defines ‘semiconductor materials’ to include direct and indirect production materials.
- 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 materials.
- 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.
- Specifies that the credit applies to property placed in service after the bill’s enactment.
Who is affected
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Sponsors
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