TITLE I: SEMICONDUCTOR PROMOTION PROGRAM
1. There is hereby created a Southern Semiconductor Trust Fund (SSTF). The SSTF 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, $20 billion is hereby authorized to be appropriated to assist in the development of semiconductor manufacturing production in the Southern Region. Such funds shall serve as financial assistance for building or modernizing semiconductor manufacturing capabilities in the Southern Region.
3. The funds authorized to be expended under this title shall be expended as follows:
A. $10 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. $6 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 SSTF.
B. $7 Billion from the SSTF 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. $5 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 SSTF.
C. $3 Billion from the SSTF 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. Any recipient of funds under this Title shall grant an Easement to the Southern Region over the property acquired or funded pursuant to this Title. This Easement shall include a right to temporarily secure and assume control of such property and the delivery priority of any semiconductors produced thereon during a declared emergency if the Governor determines such security or control is necessary to Regional safety or security. Any such assumption of control shall expire after sixty (60) days unless extended by law.
5. Any recipient of funds under this Title shall adopt and implement a Cybersecurity Plan approved by the Governor that is capable of adequately protecting the facility funded by this Title as well as any other property owned, controlled, or managed by the recipient.
6. Any recipient of funds under this Title shall be considered contractors for purposes of the No Chinese Spyware Act.
TITLE II: FUNDING AND ENACTMENT
1. $1 Billion from the Disaster Relief Trust Fund is hereby transferred to the SSTF.
2. $572 Million from the Civil Defense Trust Fund is hereby transferred to the SSTF.
3. The increased revenue raised by the No Adult Daycares Act is hereby dedicated to the SSTF for the next five (5) years.
4. The followin Sin Taxes are hereby increased by one (1) percentage point with the increased revenue raised dedicated to the SSTF for the next five (5) years:
A. Adult Entertainment income
B. Bank and financial institution income
C. Crypto currency mining
D. Crypto currency gains
E. Data Broker profits
F. Dating or Sex Location Services
G. Electric vehicles
H. Social media company profits
I. Pornography
J. Social media company profits
5. This act shall take effect immediately.
