The Idaho Semiconductors for America Act provides qualifying Idaho semiconductor companies with a sales and use tax exemption on the purchase of qualifying construction and building materials. This legislation was passed in the 2022 legislative session and is codified in statute. It was dependent upon the Federal CHIPS and Science Act of 2022 which was signed into law on August 9, 2022.
Read more about the act here.
CHIPS and Science Act of 2022
The CHIPS and Science Act is federal legislation that provides funding for the development of facilities to research, manufacture and produce semiconductors and semiconductor-related materials and equipment. Qualifying companies will apply to the United States Secretary of Commerce and are eligible to receive no more than $3 billion per fab.