fraud with respect to the credit allowed under this section. . (b) Tax on base erosion payments of taxpayers with substantial gross receipts Section 59A(b)(1)(B)(ii) of the Internal Revenue Code of 1986 is amended— (1) in subclause (II), by striking the period at the end and inserting , plus , and (2) by adding at the end the following: (III) the credit determined under section 48D for the taxable year. . (c) Investment credit Section 46 of the Internal Revenue Code of 1986 is amended by striking and at the end of paragraph (5), by striking the period at the end of paragraph (6) and inserting , and , and by adding at the end the following new paragraph: (7) the qualifying semiconductor equipment credit. . (d) Clerical amendment The table of sections for subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 48C the following new item: Sec. 48D. Qualifying semiconductor equipment credit. . (e) Effective date The amendments made by this section shall apply to any qualified semiconductor equipment (as defined in subsection (c) of section 48D) placed in service after the date of enactment of this Act, or any qualified semiconductor manufacturing facility investment expenditure (as defined in subsection (d) of such section) incurred after such date. 3. Building United States capacity for verification and manufacturing of advanced microelectronics (a) Program The Secretary of Commerce, acting through the Director of the National Institute of Standards and Technology, shall carry out a program of research and development investment to enable advances and breakthroughs in measurement science, standards, material characterization, instrumentation, testing, and manufacturing capabilities that will accelerate the underlying research and development for design, development, and manufacturability of next generation microelectronics and ensure the competitiveness and leadership of the United States within this sector. (b) Components The