U.S Code last checked for updates: Nov 22, 2024
All TitlesTitle 15Chapter 72A
§ 4655.
Funding for development and adoption of measurably secure semiconductors and measurably secure semiconductors supply chains
(a)
Multilateral Semiconductors Security Fund
(1)
Establishment of fund
(2)
Reporting requirement
(3)
Investment of amounts
(A)
Investment of amounts
(B)
Interest and proceeds
(4)
Use of Fund
(A)
In general
Subject to subparagraph (B), amounts in the Fund shall be available, as provided in advance in an appropriations Act, to the Secretary of State—
(i)
to provide funding through the common funding mechanism described in subsection (b)(1) to support the development and adoption of measurably secure semiconductors and measurably secure semiconductors supply chains; and
(ii)
to otherwise carry out this section.
(B)
Availability contingent on international arrangement or agreement
(i)
In general
(ii)
Consultation
(b)
Common funding mechanism for development and adoption of measurably secure semiconductors and measurably secure semiconductors supply chains
(1)
In general
(2)
Commitments
In creating and sustaining a common funding mechanism described in paragraph (1), the Secretary of State should promote efforts among foreign partners to—
(A)
establish transparency requirements for any subsidies or other financial benefits (including revenue foregone) provided to semiconductors firms located in or outside such countries;
(B)
establish consistent policies with respect to countries that—
(i)
are not participating in the common funding mechanism; and
(ii)
do not meet transparency requirements established under subparagraph (A);
(C)
promote harmonized treatment of semiconductors and verification processes for items being exported to a country considered a national security risk by a country participating in the common funding mechanism;
(D)
establish consistent policies and common external policies to address nonmarket economies as the behavior of such countries pertains to semiconductors;
(E)
align policies on supply chain integrity and semiconductors security, including with respect to protection and enforcement of intellectual property rights; and
(F)
promote harmonized foreign direct investment screening measures and export control policies with respect to semiconductors to align with national, multilateral, and plurilateral security priorities.
(c)
Notifications to be provided by the Fund
(1)
In general
(2)
Information required
The information required by this subsection includes—
(A)
the amount of each such expenditure;
(B)
an identification of the recipient or beneficiary; and
(C)
a description of the project or activity and the purpose to be achieved by an expenditure of the Fund.
(3)
Arrangements or agreements
(Pub. L. 116–283, div. H, title XCIX, § 9905, Jan. 1, 2021, 134 Stat. 4854; Pub. L. 118–31, div. F, title LXVII, § 6707(b)(1)(B), Dec. 22, 2023, 137 Stat. 1018.)
cite as: 15 USC 4655
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