Building Advanced Semiconductors Investment Credit Act

H.R. 3204 · 119th Congress · May 5, 2025 · Lineage

A BILL

To amend the Internal Revenue Code of 1986 to increase the advanced manufacturing investment credit, and for other purposes.

This Act may be cited as the “Building Advanced Semiconductors Investment Credit Act” or “BASIC ACT”.

(a)

Credit increase— Section 48D(a) of the Internal Revenue Code of 1986 is amended by striking “25 percent” and inserting “35 percent”.

(b)

Credit period extension— Section 48D(e) of such Code is amended by striking “December 31, 2026” and inserting “December 31, 2030”.

(c)

Effective date— The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.

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May 5, 2025viewing Introduced in House Ms. Tenney (for herself, Mr. Suozzi, Ms. Malliotakis, Mr. Langworthy, Mr. Fitzpatrick, Mr. Morelle, Mr. Mannion, Mr. Tonko, Mr. Carey, Mr. Kennedy of New York, Mr. Riley of New York, Mr. Horsford, Ms. Balint, Mr. Simpson, Mr. Subramanyam, Mrs. Kiggans of Virginia, Mrs. Kim, Mr. Lawler, Mr. Khanna, and Ms. Stefanik) introduced the following bill; which was referred to the Committee on Ways and Means