The Protecting Circuit Boards and Substrates Act establishes federal incentives to boost domestic production of printed circuit boards and integrated circuit substrates, which are essential components for electronics and technology manufacturing. The bill provides a 25% federal tax credit for businesses that purchase U.S.-manufactured circuit boards and substrates (starting in 2026), along with grants and financial assistance from the Commerce Department to help companies build, expand, or modernize domestic manufacturing and research facilities. The program prioritizes support for small businesses, minority-owned enterprises, women-owned businesses, veteran-owned businesses, and projects moving operations away from foreign adversaries, with individual awards capped at $300 million unless approved otherwise for national security reasons. The bill authorizes $3 billion in funding through 2065 and requires recipients to maintain records, use funds only for approved projects, and face financial penalties if they miss deadlines or engage with foreign entities of concern. The Government Accountability Office must review the program every two years to measure its effectiveness in developing domestic manufacturing capacity and strengthening the U.S. electronics industry.