Green Semi Conductor Tax Credit

What is happening? New York legislature passed a  “Green CHIPS” bill that will provide tax credits for green semi conductor manufacturers.

Why is this important? $500 million a year in state tax credits in exchange for at least 500 new jobs; spending at least $3 billion in capital investment over a period of ten years; spending $15 for every $1 of state incentives; and including “sustainability measures” to mitigate the “project’s greenhouse gas emissions impact over its lifetime.”

How will this be important? The legislation looks to gain favor if Congress passes its proposed  $52 billion subsidy program to move chip manufacturing back to the US

Governing | New York Legislature Passes Largest Industry-Specific Tax Break