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Description
Closed Consultation on Rule on Preventing the Improper Use of CHIPS Act Funding
On 22 May 2023, the National Institute of Standards of Technology (NIST), an agency of the US Department of Commerce, closed its public consultation on a Proposed Rule on Preventing the Improper Use of CHIPS Act Funding. A program of incentives was established by the CHIPS Act (the Act) with the intended aim of restoring and maintaining US leadership in the supply chain for semiconductors. The Rule places restrictions on recipients of funding, such as restrictions on transactions expanding manufacturing capacity in countries of concern, certain prohibitions on joint research and technological licensing with entities of concern, and procedural rules regarding notification of significant, potentially prohibited, transactions.
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