<searchTitle>Advanced Manufacturing Investment Credit Rules Under Sections 48D and 50; Federal Register Vol. 89, Issue </searchTitle>
<granuleClass>RULE</granuleClass>
<accessId>2024-23857</accessId>
<partNumber>III</partNumber>
<agency order="1">DEPARTMENT OF THE TREASURY</agency>
<agency order="2">Internal Revenue Service</agency>
<effectiveDate>2024-12-23</effectiveDate>
<departmentDoc>TD 10009</departmentDoc>
<rin number="1545-BQ54"/>
<billingCode>4830-01-P</billingCode>
<frDocNumber>2024-23857</frDocNumber>
<action>Final rule.</action>
<summary>This document contains final regulations to implement the advanced manufacturing investment credit established by the CHIPS Act of 2022 to incentivize the manufacture of semiconductors and semiconductor manufacturing equipment within the United States. The final regulations adopt with certain modifications rules proposed in the first of two notices of proposed rulemaking to implement the credit, other than proposed rules regarding the elective payment election that were addressed in the final rule adopted in connection with the second notice of proposed rulemaking. The final regulations provide the eligibility requirements for the credit, and a special 10- year credit recapture rule that applies if there is a significant transaction involving the material expansion of semiconductor manufacturing capacity in a foreign country of concern. The final regulations affect taxpayers that claim the advanced manufacturing investment credit.</summary>
<dates>Effective date: These regulations are effective on December 23, 2024.</dates>
<contact>Concerning these final regulations, contact Lani Sinfield of the Office of Associate Chief Counsel (Passthroughs and Special Industries), (202) 317-4137 (not a toll-free number).</contact>
<cfr title="26">
<part number="1"/>
<subject>Income Taxes</subject>
<subject>Reporting and Recordkeeping Requirements</subject>
...</cfr>
<tocDoc>Advanced Manufacturing Investment Credit, </tocDoc>
<urlRef>https://www.irs.gov</urlRef>