Chip Security Act

Chip Security Act This bill requires covered integrated circuit products (e.g., advanced computing chips) to incorporate certain security mechanisms. Specifically, the bill directs the Department of Commerce to require any covered integrated circuit product to have chip security mechanisms that implement location verification before the product is exported, reexported, or in-country transferred to or in a foreign country. Commerce must require any person that has received a license or other authorization under the Export Control Reform Act of 2018 to export, reexport, or in-country transfer a covered product to promptly report to Commerce's Bureau of Industry and Security if the person…