United States Congress
Protecting American Advanced Manufacturing Act
December 13, 2023
Summary
S. 3486, the Protecting American Advanced Manufacturing Act, would amend IRC Section 45X to deny the advanced manufacturing production credit to any 'disqualified entity' — companies owned, controlled, directed, or materially influenced by a foreign adversary (10%+ equity threshold, including via joint ventures, derivatives, or contractual arrangements), as well as entities holding prohibited debt, lease, license, or contract-manufacturing arrangements that confer influence or substantial benefit. The prohibition would apply to taxable years beginning after enactment and directs Treasury to issue anti-evasion guidance. This is proposed legislation, not a final rule, and does not directly regulate mortgage origination, servicing, or disclosure practices.
AI-generated summary · Aug 14, 2026. Verify with your compliance counsel before acting.
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Source: https://www.congress.gov/bill/118th-congress/s-bill/3486
Common questions
- What does "Protecting American Advanced Manufacturing Act" cover?
- S. 3486, the Protecting American Advanced Manufacturing Act, would amend IRC Section 45X to deny the advanced manufacturing production credit to any…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on December 13, 2023.