Advanced Manufacturing Investment Credit — Section 48D (CHIPS Act)

Section 48D is the IRS's advanced manufacturing investment credit for semiconductor and semiconductor-equipment investment in the United States. It is a CHIPS Act tax credit, not a grant, and it gives eligible manufacturers a 25% credit on qualified investment in advanced manufacturing facilities. The credit remains active, with construction required to begin before January 1, 2027. The eligible base is property placed in service after December 31, 2022, and taxpayers can elect direct pay under section 6417, subject to pre-filing registration. The mechanism also reaches partnerships and S corporations, and the filing trail runs through Forms 3468 and 3800. Eligibility is limited to U.S.-based semiconductor manufacturers and semiconductor manufacturing equipment makers, including tax-exempt entities that can use elective payment. This route fits capital-intensive fab and equipment projects that can document qualifying property, timing, and registration. The final regulations landed in October 2024, which makes the rule set relatively settled for tax planning even though the benefit is claimed through tax administration rather than a discretionary competition. Teams with clean project timing and tax documentation will find the path far clearer than a typical federal grant process.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.