Dechert: The US Department of Commerce Finalizes the CHIPS Act's Guardrails to Curb National Security Risks | Practical Law

Dechert: The US Department of Commerce Finalizes the CHIPS Act's Guardrails to Curb National Security Risks | Practical Law

On September 25, 2023, the US Department of Commerce issued a final rule regarding the use of funds offered under the CHIPS and Science Act of 2022 (the “CHIPS Act”). This rule incorporates many changes to the March 2023 proposed rule, including the possibility that Commerce may impose mitigation measures on a funding recipient at the time of entry into a required agreement to mitigate potential national security risks or in response to any violations of a required agreement.

Dechert: The US Department of Commerce Finalizes the CHIPS Act's Guardrails to Curb National Security Risks

by Dechert LLP
Published on 10 Oct 2023 • USA (National/Federal)
On September 25, 2023, the US Department of Commerce issued a final rule regarding the use of funds offered under the CHIPS and Science Act of 2022 (the “CHIPS Act”). This rule incorporates many changes to the March 2023 proposed rule, including the possibility that Commerce may impose mitigation measures on a funding recipient at the time of entry into a required agreement to mitigate potential national security risks or in response to any violations of a required agreement.