SECTION 1. Short title.

SEC. 2. SelectUSA defined.

SEC. 3. Findings.

(1) Semiconductors underpin the United States and global economies, including manufacturing sectors. Semiconductors are also essential to the national security of the United States.

(2) A shortage of semiconductors, brought about by the COVID–19 pandemic and other complex factors impacting the overall supply chain, has threatened the economic recovery of the United States and industries that employ millions of United States citizens.

(3) Addressing current challenges and building resilience against future risks requires ensuring a secure and stable supply chain for semiconductors that will support the economic and national security needs of the United States and its allies.

(4) The supply chain for semiconductors is complex and global. While the United States plays a leading role in certain segments of the semiconductor industry, securing the supply chain requires onshoring, reshoring, or diversifying vulnerable segments, such as for—

(A) fabrication;

(B) advanced packaging; and

(C) materials and equipment used to manufacture semiconductor products.

(5) The Federal Government can leverage foreign direct investment and private dollars to grow the domestic manufacturing and production capacity of the United States for vulnerable segments of the semiconductor supply chain.

(6) The SelectUSA program of the Department of Commerce, in coordination with other Federal agencies and State-level economic development organizations, is positioned to boost foreign direct investment in domestic manufacturing and to help secure the semiconductor supply chain of the United States.

SEC. 4. Coordination with State-level economic development organizations.

(1) to review—

(A) what efforts the Federal Government can take to support increased foreign direct investment in any segment of semiconductor-related production;

(B) what barriers to such investment may exist and how to amplify State efforts to attract such investment;

(C) public opportunities those organizations have identified to attract foreign direct investment to help increase investment described in subparagraph (A); and

(D) resource gaps or other challenges that prevent those organizations from increasing such investment; and

(2) to develop recommendations for—

(A) how SelectUSA can increase such investment independently or through partnership with those organizations; and

(B) working with countries that are allies or partners of the United States to ensure that foreign adversaries (as defined in section 8(c)(2) of the Secure and Trusted Communications Networks Act of 2019 (47 U.S.C. 1607(c)(2))) do not benefit from United States efforts to increase such investment.

SEC. 5. Report on increasing foreign direct investment in semiconductor-related manufacturing and production.

(1) a review of the comments SelectUSA received from State-level economic development organizations under section 4;

(2) a description of activities SelectUSA is engaged in to increase foreign direct investment in semiconductor-related manufacturing and production; and

(3) an assessment of strategies SelectUSA may implement to achieve an increase in such investment and to help secure the United States supply chain for semiconductors, including by—

(A) working with other relevant Federal agencies; and

(B) working with State-level economic development organizations and implementing any strategies or recommendations SelectUSA received from those organizations.

SEC. 6. No additional funds.