This bill amends the Internal Revenue Code of 1986 to expand the existing advanced manufacturing investment credit. It introduces a new category of eligible expenses: qualified semiconductor design expenditures , aiming to incentivize domestic innovation in the semiconductor industry. Taxpayers would be eligible for a 25 percent credit on these qualified expenditures. This encompasses both in-house semiconductor design expenses , covering wages for qualified services, supplies, and computer use, and contract design expenses paid to external entities. A key condition is that all eligible semiconductor design activities must be conducted within the United States . Qualified semiconductor design is defined as the development of product design, specifications, trade secrets, or other intellectual property for semiconductor manufacturing, provided it involves a process of experimentation for new or improved function, performance, reliability, or quality. Certain activities are explicitly excluded, such as those related to style, post-commercial production design (with limited exceptions), duplication of existing products, or routine market research and testing. The bill also ensures that expenditures receiving this credit cannot be simultaneously claimed under the general research credit (Section 41). The credit for qualified semiconductor design expenditures will apply to amounts paid or incurred after the Act's enactment. It is scheduled to terminate for expenditures paid or incurred after December 31, 2036 , reinforcing the focus on stimulating near-term domestic semiconductor development.