U.S. Dep.’t of Commerce NPRM on Preventing Improper Use of CHIPS Act Funding (Mar. 23, 2023)

U.S. Department of Commerce, National Institute of Standards and Technology Notice of Proposed Rulemaking on Preventing the Improper Use of CHIPS Act Funding. The proposed rule sets forth terms for the limitations in the CHIPS Act on transactions expanding semiconductor manufacturing capacity in foreign countries, including through legacy facilities. It also establishes procedures for funding recipients to notify the Secretary of Commerce regarding planned transactions that may be prohibited. Written comments are due on or before May 22, 2023.