Digest: The Act would let state CHIPS Fund grants be awarded to firms that could get federal semiconductor financial assistance under the CHIPS Act but have not applied for it. The Act would expand the kinds of businesses that may receive state CHIPS Fund grants. The Act would rename the CHIPS Fund as the Oregon Fostering Innovation Strength at Home and CHIPS Fund. (Flesch Readability Score: 64.4). [Digest: The Act would require a study of economic development in this state with a report to be turned in next year. (Flesch Readability Score: 64.6).] [Requires the Oregon Business Development Department to study economic development 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 on January 2, 2027.] Authorizes state CHIPS Fund grants and loans to businesses that are eligible for federal semiconductor financial assistance under the CHIPS Act but have not applied for it. Expands the kinds of businesses that may receive state CHIPS Fund grants and loans. Renames the CHIPS Fund as the Oregon Fostering Innovation Strength at Home and CHIPS Fund. Declares an emergency, effective on passage.