Digest: The Act would let a semiconductor firm receive a state CHIPS Fund grant or loan if it could receive federal CHIPS Act funding but has not applied for it. (Flesch Readability Score: 63.6). [Digest: The Act would have Business Oregon study the semiconductor industry in this state. The Act would require a report of the study to be turned in next year. (Flesch Readability Score: 65.7).] [Requires the Oregon Business Development Department to study the semiconductor industry in Oregon. Directs the department to submit a report of the study to the interim committees of the Legislative Assembly related to economic development no later than September 15, 2026.] [Sunsets January 2, 2027.] Authorizes state CHIPS Fund grants and loans to be made to businesses that are eligible for federal semiconductor financial assistance under the CHIPS Act but have not applied for it. Declares an emergency, effective on passage.