Protecting Circuit Boards and Substrates Act

Tax Savings for Businesses: Under Section 2(a), taxpayers can receive a credit equal to 25 percent of the cost paid for printed circuit boards and integrated circuit substrates fabricated in the United States.

Job Creation and Training: Section 3(b)(2)(ii) encourages covered entities to make commitments to worker and community investment, specifically through training and education benefits, which can expand employment opportunities for economically disadvantaged individuals.

Support for Diverse Businesses: Section 3(b)(2)(F)(i) states that the Secretary shall give preference to applications from small businesses, minority-owned businesses, women-owned businesses, or veteran-owned businesses.

Support for Educational Institutions: Section 3(b)(2)(F)(iv) provides preference for workforce training programs that include historically Black colleges or universities, Hispanic-serving institutions, Tribal Colleges or Universities, minority-serving institutions, or rural-serving institutions of higher education.

Workforce Advancement: Section 3(b)(2)(F)(iv)(v) promotes the use of workforce training organizations that offer industry-recognized, stackable, and portable credentialing programs.

Financial Risk Due to Delays: Under Section 3(b)(5)(A)(ii), if a project is not commenced and completed by the target dates set by the Secretary, the recipient may have to pay back the award through progressive recovery of up to the full amount.

Loss of Funding Due to Research Activities: Section 3(b)(5)(B) allows the Secretary to recover the full amount of an award if a recipient knowingly engages in joint research or technology licensing with a foreign entity of concern related to national security concerns.

Strict Requirements for Larger Entities: Under Section 3(b)(2)(ii), covered entities must prove they have a plan to sustain incentives without additional Federal assistance and must secure commitments from regional educational or training entities, which may pose an administrative burden.