Top Summary
Within 180 days of the Act's enactment, the Executive Director of SelectUSA must seek input from state-level economic development organizations to assess federal support for foreign direct investment in semiconductor production, identify barriers and opportunities for investment, highlight resource gaps, and develop recommendations for increasing investment through SelectUSA's efforts or partnerships, while ensuring that U.S. initiatives do not benefit foreign adversaries.
Original Bill Text:
SEC. 4.Coordination with State-level economic development organizations.
Not later than 180 days after the date of the enactment of this Act, the Executive Director of SelectUSA shall solicit comments from State-level economic development organizations—
(1) to review—
(A) what efforts the Federal Government can take to support increased foreign direct investment in any segment of semiconductor-related production;
(B) what barriers to such investment may exist and how to amplify State efforts to attract such investment;
(C) public opportunities those organizations have identified to attract foreign direct investment to help increase investment described in subparagraph (A); and
(D) resource gaps or other challenges that prevent those organizations from increasing such investment; and
(2) to develop recommendations for—
(A) how SelectUSA can increase such investment independently or through partnership with those organizations; and
(B) working with countries that are allies or partners of the United States to ensure that foreign adversaries (as defined in section 8(c)(2) of the Secure and Trusted Communications Networks Act of 2019 (47 U.S.C. 1607(c)(2))) do not benefit from United States efforts to increase such investment.