Semiconductor Superiority Act

This bill amends the Internal Revenue Code of 1986 to clarify the application of the advanced manufacturing investment credit for semiconductor manufacturing facilities operating in outer space. It specifies that qualified property for such facilities includes items used for transporting crew, goods, and materials to and from the facility, even if not physically located in outer space. Furthermore, it defines manufacturing-related functions to encompass activities like flight control operations, crew habitation, and facility repair, while explicitly excluding rockets or similar launch vehicles from qualifying property.

The legislation also clarifies that property located in outer space will not fail to be treated as qualified property solely due to its location, and that outer space includes low-Earth orbit. Additionally, it amends other special rules to ensure that qualified property within these space-based facilities, held by a United States person and launched from within the United States, is eligible for the credit. These amendments apply to property placed in service after the date of the Act's enactment, aiming to provide certainty and encourage investment in extraterrestrial semiconductor production.