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Tax changes: higher depletion rate for critical rare earth minerals.

This Act adjusts tax rules for companies mining critical minerals, specifically the 15 lanthanide elements and scandium, which are vital for modern technology like electronics and electric vehicles. It increases the percentage depletion rate to 22% for these minerals, aiming to incentivize domestic production and reduce reliance on foreign supply chains. While directly impacting businesses, this change could indirectly affect the stability of supply and potentially the cost of technological goods for consumers.
Key points
The percentage depletion rate for rare earths (lanthanides and scandium) is increased to 22%.
The goal is to encourage greater domestic mining of these critical minerals, enhancing national economic and technological security.
The tax changes apply to taxable years beginning after the date the Act is officially passed into law.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4772
Sponsor: Rep. Smith, Adrian [R-NE-3]
Process start date: 2025-07-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Critical Minerals Investment Tax Modernization Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4772.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-07-25.

What are the main provisions?

Key points include:

  • The percentage depletion rate for rare earths (lanthanides and scandium) is increased to 22%.
  • The goal is to encourage greater domestic mining of these critical minerals, enhancing national economic and technological security.
  • The tax changes apply to taxable years beginning after the date the Act is officially passed into law.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Smith, Adrian [R-NE-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-31.

CATEGORIES

Taxes Economy