SEMI Investment Act

This bill expands the existing advanced manufacturing investment tax credit to include facilities that produce materials integral to semiconductor manufacturing. It amends the Internal Revenue Code to define 'advanced manufacturing facility' as one primarily manufacturing semiconductors, semiconductor manufacturing equipment, or semiconductor materials.

Sec. 2, Expansion of advanced manufacturing investment credit: The bill adds a new definition for 'semiconductor materials,' which includes direct production materials (physically incorporated into a finished semiconductor, such as substrates, thin films, packaging substrates, and bonding materials) and indirect production materials (specialized materials used in production, testing, inspection, or packaging but not physically incorporated, such as process chemicals, photolithography materials, cleaning materials, testing materials, packaging process materials, fluid-handling materials, and wafer processing chamber materials). Indirect production materials exclude those with generic uses predominantly outside semiconductor manufacturing. The Secretary of the Treasury, in consultation with the Secretary of Commerce, must publish a list of qualifying materials within 180 days of enactment and annually thereafter, and taxpayers may petition for interim determinations on unlisted materials. The amendment applies to property placed in service after the date of enactment.