Established by the  law commonly known as the Chips Act, the credit is aimed at providing incentivess for the manufacture of semiconductors and semiconductor manufacturing equipment within the United States

For any taxable year, the credit, available for property put in service after Dec. 31, 2022, is generally equal to 25 percent of an eligible taxpayer's qualified investment in an advanced manufacturing facility. Qualified property must be integral to the operation of the advanced manufacturing facility.