S. 97 — Securing Semiconductor Supply Chains Act

This section states congressional findings on the critical role of semiconductors in the U.S. economy and national security; the semiconductor shortage triggered by the COVID-19 pandemic and supply chain vulnerabilities; the need to onshore, reshore, or diversify fabrication, advanced packaging, and manufacturing materials and equipment; and the potential of the SelectUSA program to leverage foreign direct investment for domestic semiconductor production.

This section directs the Executive Director of SelectUSA (i.e., the Department of Commerce program promoting foreign direct investment in the United States) to solicit comments from state-level economic development organizations, not later than 180 days after enactment of this Act, (1) to review federal efforts to support foreign direct investment in semiconductor-related production, barriers to such investment and ways to amplify state efforts, publicly identified opportunities for such investment, and resource gaps or challenges hindering it; and (2) to develop recommendations for how SelectUSA can increase such investment independently or through partnerships with those organizations and for working with U.S. allies or partners to ensure foreign adversaries (as defined in 47 U.S.C. 1607(c)(2)) do not benefit from U.S. efforts.

This section directs the Executive Director of SelectUSA—in coordination with the Federal Interagency Investment Working Group established by Executive Order 13577—to submit to the Senate Committee on Commerce, Science, and Transportation and the House Committee on Energy and Commerce, not later than two years after enactment of this Act, a report that includes (1) a review of comments received from state-level economic development organizations under section 4; (2) a description of SelectUSA activities to increase foreign direct investment in semiconductor-related manufacturing and production; and (3) an assessment of strategies SelectUSA may implement to increase such investment and secure the U.S. semiconductor supply chain, including by working with other federal agencies and state-level economic development organizations and implementing any strategies or recommendations received from those organizations.

This section authorizes no additional funds for carrying out the Act and requires the Executive Director of SelectUSA to implement it using amounts otherwise available.