US HB3447

Requires covered integrated circuit products (classified under Export Control Classification Numbers 3A090, 3A001.z, 4A090, 4A003.z) to be equipped with location verification chip security mechanisms within 180 days of enactment before export, reexport, or in-country transfer

Mandates license holders to report to the Under Secretary of Industry and Security when they discover products are in unauthorized locations, diverted to different users, or subjected to tampering attempts

Directs the Secretary of Commerce to conduct an assessment within one year to identify additional security mechanisms, including anti-tampering methods, workload verification, and functionality modification capabilities for illicitly acquired chips

Grants enforcement authority to verify ownership and location of exported products, maintain records of covered integrated circuits with location and end-user information, and require license holders to provide tracking data

Requires annual assessments for three years following implementation to evaluate new chip security mechanisms and recommend modifications to export controls that could allow more flexibility for countries receiving products with compliant security features