On the heels of President Biden signing into law the CHIPS and Science Act of 2022 (the "CHIPS Act"), the Department of Commerce ("Commerce") recently launched a new website at CHIPS.gov to publish information relating to the CHIPS Act. Shortly after launch of the new website, Commerce published on the site a high-level strategy outlining how it will implement the CHIPS Act, which includes approximately $50 billion in funding to revitalize domestic manufacturing of cutting-edge semiconductors. A summary of Commerce's strategy for potential funding applicants is provided below.
In other news, Commerce recently acted under the Export Administration Regulations ("EAR") to control critical semiconductor technologies involving certain substrates and certain electronic computer-aided design ("ECAD") software for designing integrated circuits. These new controls will have implications not only for export compliance but also for national security reviews conducted by the Committee on Foreign Investment in the United States ("CFIUS").
NEWLY CREATED CHIPS.GOV
On August 25, Commerce announced the creation of CHIPS.gov, a new website dedicated to the CHIPS Act. According to the announcement, "CHIPS.gov will be a central resource for all information related to the implementation of the Commerce Department's CHIPS and Science Act initiatives, and will provide information about Departmental priorities, funding opportunities, timelines, requirements and more as the information becomes available."
HIGHLIGHTS OF INITIAL COMMERCE GUIDANCE FOR POTENTIAL FUNDING APPLICANTS
On September 6, Commerce released a strategy paper detailing the guiding principles, plans, and important considerations for applicants for funding under the Commerce-controlled CHIPS for America Fund (the "Strategy Paper"). Important top-line items for potential applicants include that (i) Commerce intends to begin ..
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