Protecting Circuit Boards and Substrates Act

Summary

Creates a new 25% business tax credit for companies that buy printed circuit boards (PCBs) and integrated circuit substrates if those items are fabricated in the United States, and establishes a Commerce Department program to provide financial incentives, grants, and support for U.S. PCB and microelectronics manufacturing and R&D. Treasury is directed to write regulations and guidance; the tax credit applies to amounts paid or incurred after December 31, 2025. Defines key terms (printed circuit board, integrated circuit substrate, covered entity, covered incentive, and various business and educational categories), adopts certain existing federal definitions for foreign entities of concern and minority-serving institutions, and authorizes a range of incentives including workforce training, real property concessions, and R&D funding to encourage domestic production and modernization of PCB and substrate facilities.

• Creates a 25% business tax credit for purchases of printed circuit boards and integrated circuit substrates fabricated in the U.S.
• Adds the new credit to the general business credit and requires Treasury to issue implementing regulations.
• Establishes a Commerce Department program to provide financial assistance and incentives for PCB/microelectronics manufacturing and R&D.
• Defines covered entities, covered incentives, and many program-related terms; adopts existing federal definitions for foreign entities of concern and minority-serving institutions.
• Covered incentives explicitly include workforce training grants, real property concessions, and R&D funding.
• Tax credit and provisions take effect for amounts paid or incurred after December 31, 2025.
• The bill authorizes incentives but does not itself appropriate specific funding for grants or projects.
• Program design and eligibility are delegated to executive branch rulemaking and guidance, including consultation with the Secretary of State on certain incentives.