136 STAT. 1372 PUBLIC LAW 117–167—AUG. 9, 2022
DIVISION A—CHIPS ACT OF 2022
SEC. 101. SHORT TITLE.
This division may be cited as the ‘‘CHIPS Act of 2022’’.
SEC. 102. CREATING HELPFUL INCENTIVES TO PRODUCE SEMI-
CONDUCTORS (CHIPS) FOR AMERICA FUND.
(a) CHIPS
FOR
A
MERICA
F
UND
.—
(1) E
STABLISHMENT
.—There is established in the Treasury
of the United States a fund to be known as the ‘‘Creating
Helpful Incentives to Produce Semiconductors (CHIPS) for
America Fund’’ (referred to in this subsection as the ‘‘Fund’’)
for the Secretary of Commerce to carry out sections 9902,
9904, and 9906 of the William M. (Mac) Thornberry National
Defense Authorization Act for Fiscal Year 2021 (15 U.S.C.
4652, 4654, and 4656; Public Law 116–283). Amounts in the
Fund to carry out sections 9904 and 9906 of Public Law 116–
283 shall be transferred to and merged with accounts within
the Department of Commerce to be used for such purposes,
except that amounts transferred to carry out section 9904 of
Public Law 116–283 shall remain available until September
30, 2025.
(2) A
PPROPRIATION
.—
(A) In addition to amounts otherwise available for such
purposes, there is appropriated to the Fund established
in subsection (a)(1), out of amounts in the Treasury not
otherwise appropriated—
(i) for fiscal year 2022, $24,000,000,000, to remain
available until expended, of which $19,000,000,000
shall be for section 9902 of Public Law 116–283,
$2,000,000,000 shall be for subsection (c) of section
9906 of Public Law 116–283, $2,500,000,000 shall be
for subsection (d) of section 9906 of Public Law 116–
283, and $500,000,000 shall be for subsections (e) and
(f) of section 9906 of Public Law 116–283;
(ii) for fiscal year 2023, $7,000,000,000 to remain
available until expended, of which $5,000,000,000 shall
be for section 9902 of Public Law 116–283 and
$2,000,000,000 shall be for subsections (c), (d), (e),
and (f) of section 9906 of Public Law 116–283;
(iii) for fiscal year 2024, $6,300,000,000, to remain
available until expended, of which $5,000,000,000 shall
be for section 9902 of Public Law 116–283 and
$1,300,000,000 shall be for subsections (c), (d), (e),
and (f) of section 9906 of Public Law 116–283;
(iv) for fiscal year 2025, $6,100,000,000, to remain
available until expended, of which $5,000,000,000 shall
be for section 9902 of Public Law 116–283 and
$1,100,000,000 shall be for subsections (c), (d), (e),
and (f) of section 9906 of Public Law 116–283; and
(v) for fiscal year 2026, $6,600,000,000, to remain
available until expended, of which $5,000,000,000 shall
be for section 9902 of Public Law 116– 283 and
$1,600,000,000 shall be for subsections (c), (d), (e),
and (f) of section 9906 of Public Law 116–283.
Transfer
authority.
15 USC 4651
note.
CHIPS Act
of 2022.
VerDate Sep 11 2014 13:57 Sep 27, 2022 Jkt 029139 PO 00167 Frm 00008 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL167.117 PUBL167
dkrause on LAP5T8D0R2PROD with PUBLAWS