A bill to clarify that State tax incentives for investment in new machinery and equipment are a reasonable regulation of commerce and not an undue burden on interstate commerce, and for other purposes.

Authorizes a State to provide to any entity a tax or fee credit or other tax incentive for investment in new machinery or equipment. Provides that any such action taken by a State shall be considered to be a reasonable regulation of commerce and shall not be considered to impose an undue burden on interstate commerce or to otherwise impair, restrain, or discriminate against interstate commerce.