Protecting Circuit Boards and Substrates Act

HR 3249, the Protecting Circuit Boards and Substrates Act, creates a 25% tax credit for businesses purchasing U.S.-manufactured printed circuit boards and establishes a federal program providing financial assistance for domestic manufacturing and research of these components. The bill directly affects U.S. businesses, particularly small, minority-owned, women-owned, and veteran-owned companies, by offering incentives to build or expand facilities within the United States. Key provisions include workforce training requirements for recipients, preferences for projects that increase domestic production capacity or relocate from foreign-controlled areas, and strict restrictions on foreign entities of concern. The program is authorized with $3 billion for 2024-2025 and includes clawback provisions if projects aren't completed on schedule or if recipients collaborate with foreign entities on national security concerns.