DOMESTIC SEMICONDUCTOR CHIP PROMOTION ACT
1. There is hereby created a Semiconductor Promotion Trust Fund (SPTF). The SPTF shall hold those funds dedicated herein in an interest bearing account and allocate such funds pursuant to law.
2. Over the next five (5) years, $60 billion is hereby authorized to be appropriated to assist in the development of semiconductor manufacturing production in Atlasia. Such funds shall serve as financial assistance for building or modernizing semiconductor manufacturing capabilities in Atlasia.
3. The funds authorized to be expended under this title shall be expended as follows:
A. $30 Billion from the SSTF is hereby authorized to be expended over the next five (5) years to finance, guarantee, or subsidize site acquistion, development, and facilities construction for commercial semiconductor manufacturing. $18 Billion of this amount shall be in the form of direct loans or loan guatantees. Grant and loan determinations for this purpose shall consider all relevant factors in making such determination. All recovered loan repayments shall be deposited in the SPTF.
B. $21 Billion from the SPTF is hereby authorized to be expended over the next five (5) years to finance, guarantee, or subsidize machinery, equipment, tools, and process acquistion, development, and installation for commercial semiconductor manufacturing. $15 Billion of this amount shall be in the form of direct loans or loan guatantees. Grant and loan determinations for this purpose shall consider all relevant factors in making such determination. All recovered loan repayments shall be deposited in the SPTF.
C. $9 Billion from the SPTF is hereby authorized to be expended over the next five (5) years to subsidize workforce training, development, and recruitment for commercial semiconductor manufacturing. This amount shall be in the form of grants. Grant determinations for this purpose shall consider all relevant factors in making such determination.
4. Funding awarded under this act shall be divided as equally as is practicable between each of the three (3) Regions.
5. Any recipient of funds under this Title shall adopt and implement a Cybersecurity Plan approved by the President that is capable of adequately protecting the facility funded by this act as well as any other property owned, controlled, or managed by the recipient.
6. Any recipient of funds under this act shall be considered contractors for purposes of the No Chinese Spyware Act.
7. This act shall take effect immediately.
Sponsor: Mr. R
The gentleman from Virginia is recognized
