Top Summary
This bill requires the Executive Director of SelectUSA, in coordination with the Federal Interagency Investment Working Group, to submit a report within two years of enactment to the Senate and House committees on efforts to increase foreign direct investment in semiconductor manufacturing and production. The report must include a review of input from state economic development organizations, a description of SelectUSA's current activities, and an assessment of strategies to boost investment and secure the U.S. semiconductor supply chain, including collaboration with federal agencies and state organizations.
Original Bill Text:
SEC. 5.Report on increasing foreign direct investment in semiconductor-related manufacturing and production.
Not later than 2 years after the date of the enactment of this Act, the Executive Director of SelectUSA, in coordination with the Federal Interagency Investment Working Group established by Executive Order No. 13577 (76 Fed. Reg. 35715; relating to establishment of the SelectUSA Initiative), shall submit to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Energy and Commerce of the House of Representatives a report that includes—
(1) a review of the comments SelectUSA received from State-level economic development organizations under section 4;
(2) a description of activities SelectUSA is engaged in to increase foreign direct investment in semiconductor-related manufacturing and production; and
(3) an assessment of strategies SelectUSA may implement to achieve an increase in such investment and to help secure the United States supply chain for semiconductors, including by—
(A) working with other relevant Federal agencies; and
(B) working with State-level economic development organizations and implementing any strategies or recommendations SelectUSA received from those organizations.