117th CONGRESS 2d Session |
To provide incentives for the domestic production of printed circuit boards, and for other purposes.
Ms. Eshoo (for herself and Mr. Moore of Utah) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
To provide incentives for the domestic production of printed circuit boards, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the Supporting American Printed Circuit Boards Act of 2022 .
SEC. 2. Tax credit for the purchase or acquisition of printed circuit boards manufactured in the United States.
(a) In general. Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 45L the following new section:
SEC. 45M. Credit for the purchase or acquisition of printed circuit boards manufactured in the United States.
(a) In general. For the purposes of section 38, the credit determined under this section for the taxable year is an amount equal to 25 percent of the cost paid or incurred by the taxpayer for the purchase or acquisition of printed circuit boards manufactured in the United States for the taxable year.
(b) Definitions. For the purposes of this section
(1) PRINTED CIRCUIT BOARD. The term printed circuit board has the meaning given such term in section 3(a) of the Supporting American Printed Circuit Boards Act of 2022.
(2) MANUFACTURED. The term manufactured means all substantial actions involved in the printing of a printed circuit board from raw materials to the integration of the completed board into an end item or component of an end item.
(c) Regulations and guidance. The Secretary shall, in consultation with the Secretary of Commerce, promulgate such regulations and guidance as may be necessary or appropriate to carry out this section. .
(1) IN GENERAL. The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 45L the following new item:
Sec. 45M. Credit for the purchase or acquisition of printed circuit boards manufactured in the United States. .
(2) GENERAL BUSINESS CREDIT. Section 38(b) of the Internal Revenue Code of 1986 is amended
(A) in paragraph (32), by striking plus
(B) in paragraph (33), by striking the period at the end and inserting , plus and
(C) by adding at the end the following new paragraph:
(34) the credit for the purchase or acquisition of printed circuit boards manufactured in the United States determined under section 45M. .
(c) Effective date. The amendments made by this section shall apply to amounts paid or incurred after December 31, 2021.
SEC. 3. Incentives for printed circuit board manufacturing and research and development.
(a) Definitions. In this section:
(1) CIRCUIT BOARD. The term circuit board means a piece of insulating material on which electrical components are mounted and interconnected by etched copper foil so patterned as to form a circuit.
(2) COVERED ENTITY. The term covered entity means a private entity, a consortium of private entities, or a consortium of public and private entities with the ability to substantially finance, construct, expand, or modernize a facility relating to manufacturing or research and development of printed circuit boards.
(3) COVERED INCENTIVE. The term covered incentive means
(A) an incentive used for the purposes of constructing, expanding, or modernizing a facility described in paragraph (2) that will be located in the United States; and
(B) a workforce-related incentive (including an agreement to provide grants for workforce training or vocational education), any concession with respect to real property, funding for research and development with respect to printed circuit boards, and any other incentive determined by the Secretary, in consultation with the Secretary of State, to be appropriate and related to encouraging investment in facilities and equipment in the United States for manufacturing or research and development of printed circuit boards.
(4) ECONOMICALLY DISADVANTAGED INDIVIDUAL. The term economically disadvantaged individual means an individual described in section 8(a)(6)(A) of the Small Business Act (15 U.S.C. 637(a)(6)(A)).
(5) FOREIGN ENTITY; FOREIGN ENTITY OF CONCERN. The terms foreign entity and foreign entity of concern have the meanings given such terms in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116 283; 15 U.S.C. 4651).
(6) HISTORICALLY BLACK COLLEGE OR UNIVERSITY. The term historically Black college or university has the meaning given the term part B institution in section 322 of the Higher Education Act of 1965 (20 U.S.C. 1061).
(7) INSTITUTION OF HIGHER EDUCATION. The term institution of higher education has the meaning given such term in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001).
(8) INTEGRATED CIRCUIT SUBSTRATE. The term integrated circuit substrate means the supporting material upon or within which an integrated circuit is fabricated or to which an integrated circuit is attached.
(9) INTELLIGENCE COMMUNITY. The term intelligence community has the meaning given that term in section 3 of the National Security Act of 1947 (50 U.S.C. 3003).
(10) MINORITY-OWNED BUSINESS AND WOMEN-OWNED BUSINESS. The terms minority-owned business and women-owned business have the meanings given such terms in section 704B(h) of the Equal Credit Opportunity Act (15 U.S.C. 1691c 2(h)).
(11) MINORITY-SERVING INSTITUTION. The term minority-serving institution means any of the following:
(A) An Alaska Native-serving institution (as that term is defined in section 317(b) of the Higher Education Act of 1965 (20 U.S.C. 1059d(b))).
(B) A Native Hawaiian-serving institution (as that term is defined in section 317(b) of such Act (20 U.S.C. 1059d(b))).
(C) A Predominantly Black institution (as that term is defined in section 371(c) of such Act (20 U.S.C. 1067q(c))).
(D) An Asian American and Native American Pacific Islander-serving institution (as that term is defined in section 320(b) of such Act (20 U.S.C. 1059g(b))).
(E) A Native American-serving, nontribal institution (as that term is defined in section 319(b) of such Act (20 U.S.C. 1059f(b))).
(12) PERSON. The term person means an individual or entity.
(13) PRINTED CIRCUIT BOARD. The term printed circuit board means a circuit board on which a pattern of copper foil connecting the components has been etched or printed, including boards with printed circuits on both sides and boards with printed circuits on one side only, for the mounting of components on which most connections are made by printed circuitry.
(14) PROGRAM. The term Program means the program established under subsection (b)(1).
(15) SECRETARY. The term Secretary means the Secretary of Commerce.
(16) SMALL BUSINESS. The term small business has the meaning given the term small business concern under section 3(a) of the Small Business Act (15 U.S.C. 632(a)), except that section 121.103 of title 13, Code of Federal Regulations (or any successor regulation) shall not apply.
(17) STATE. The term State means each State of the United States, the District of Columbia, each commonwealth, territory, or possession of the United States, and each federally recognized Indian Tribe.
(18) VETERAN-OWNED BUSINESS. The term veteran-owned business has the meaning given the term small business concern owned and controlled by veterans in section 3(q) of the Small Business Act (15 U.S.C. 632(q)).
(b) Financial assistance program.
(1) IN GENERAL. The Secretary shall establish a program that, in accordance with the requirements of this section and subject to the availability of appropriations for such purposes, provides Federal financial assistance to covered entities to incentivize investment in facilities and equipment in the United States for manufacturing or research and development of printed circuit boards.
(A) IN GENERAL. A covered entity shall submit to the Secretary an application that describes the project for which the covered entity is seeking financial assistance under the Program.
(B) ELIGIBILITY. Except as provided in subparagraph (C), in order for a covered entity to qualify for financial assistance under the Program, the covered entity shall demonstrate to the Secretary, in the application submitted by the covered entity under subparagraph (A), that
(i) the covered entity has a documented interest in carrying out a project that is a covered incentive; and
(ii) with respect to the project described in clause (i), the covered entity has
(I) a plan the Secretary determines to be executable to sustain the covered incentive described in clause (i) without additional Federal financial assistance under the Program for facility support;
(II) made commitments to worker and community investment, including through
(aa) training and education benefits provided by or paid for by the covered entity; and
(bb) programs to expand employment opportunity for economically disadvantaged individuals; and