Semiconductor Superiority Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the Semiconductor Superiority Act, amends the Internal Revenue Code to clarify how the advanced manufacturing investment credit applies to semiconductor manufacturing facilities located in outer space, specifically including low-Earth orbit. It expands the definition of ‘qualified property’ to encompass items used for transporting personnel and supplies to and from these facilities, and certain operational functions like flight control and crew habitation. The bill also modifies rules regarding property held by U.S. persons launched from the United States.
Key provisions
- Clarifies that qualified property used for transporting crew, goods, equipment, or supplies to/from facilities in outer space is still considered part of the facility.
- Defines ‘outer space’ to include low-Earth orbit.
- Expands the definition of ‘manufacturing functions’ to include flight control, crew habitation, and facility repair.
- Modifies rules regarding the advanced manufacturing investment credit for property held by U.S. persons launched from the United States.
- Specifies that rocket launch vehicles are excluded from ‘qualified property’.
Who is affected
- Semiconductor manufacturers
- U.S. taxpayers
- The United States government
- Space industry
Notable changes
- Extends the advanced manufacturing investment credit to facilities in outer space.
Bill text
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Sponsors
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5 on record
Primary sponsor
Cosponsors
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