No CRS summary available for this bill.
This section expands the definition of advanced manufacturing facility under the advanced manufacturing investment tax credit (section 48D)—which provides a 25% investment tax credit for qualified facilities—to include any facility primarily manufacturing semiconductors, semiconductor manufacturing equipment, or semiconductor materials. Semiconductor materials are defined as (1) direct production materials physically incorporated into semiconductors (e.g., silicon substrates, thin films, packaging substrates, bonding materials) or (2) indirect production materials specialized for semiconductor production, testing, inspection, or packaging but not incorporated (e.g., process chemicals, photolithography materials, cleaning agents), excluding generic materials with predominant non-semiconductor uses. The Secretary of the Treasury, in consultation with the Secretary of Commerce, must publish a list of qualifying materials within 180 days of enactment and annually thereafter and allow taxpayer petitions for interim determinations. This section also extends the credit period to December 31, 2031 (from December 31, 2026). The definitional amendments apply to property placed in service after enactment; the extension applies to property construction of which begins after December 31, 2026.