Semiconductor Superiority Act

This legislation, titled the Semiconductor Superiority Act, aims to clarify the application of the advanced manufacturing investment credit under the Internal Revenue Code for semiconductor manufacturing facilities operating in outer space. It specifies that qualified property for such facilities can include items used for transporting crew, goods, equipment, or supplies to and from the facility, even if not physically located in outer space. Furthermore, property located in outer space is explicitly deemed eligible for the credit. The bill expands the definition of functions integral to the operation of these space-based facilities to encompass flight control operations , crew habitation, facility repair, and transportation of resources. It defines "outer space" to include low-Earth orbit but explicitly excludes rockets or similar launch vehicles from qualifying property for the credit. Additionally, the bill amends other sections of the tax code to ensure the credit applies to qualified property of outer space facilities held by a United States person, provided the property was launched from within the United States.