This bill establishes an interagency working group led by the Secretary of State to address semiconductor supply chain vulnerabilities exposed by Russia's invasion of Ukraine. The working group, which must be created within 30 days of the bill's enactment, will include representatives from nine federal departments and agencies including Defense, Commerce, and Homeland Security. The bill requires the Secretary of State to submit two reports to Congress: one within 60 days analyzing how the Ukraine conflict has affected supplies of critical materials like palladium, neon gas, and helium, along with recommendations for legislative action; and annual reports for five years assessing potential future disruptions to semiconductor supply chains from scenarios such as an invasion of Taiwan, broader European conflict, or natural disasters. The legislation aims to strengthen U.S. awareness of risks to this critical supply chain and develop contingency plans, including strategies for protecting semiconductor industry experts during crises.