Securing Semiconductor Supply Chains Act of 2023

S 229, the Securing Semiconductor Supply Chains Act of 2023, directs the SelectUSA program (part of the Department of Commerce) to boost foreign investment in U.S. semiconductor manufacturing, specifically targeting vulnerable supply chain segments like chip fabrication and advanced packaging. It requires SelectUSA to coordinate with state economic development organizations within 180 days to identify investment barriers, opportunities, and recommendations, and to submit a report to Congress within two years detailing progress and strategies. The bill uses existing program funds without authorizing new appropriations. It directly affects semiconductor manufacturers, state economic development groups, and foreign investors seeking U.S. opportunities, aiming to strengthen supply chain security through private investment rather than new government spending.