H.R. 4772
IntroducedCritical Minerals Investment Tax Modernization Act of 2025
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Full text of the bill
Official source on Congress.gov ↗[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4772 Introduced in House (IH)]
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119th CONGRESS 1st Session H. R. 4772
To amend the Internal Revenue Code of 1986 to adjust the percentage depletion rate for certain rare earths, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
July 25, 2025
Mr. Smith of Nebraska (for himself, Mr. Panetta, and Mr. Reschenthaler) introduced the following bill; which was referred to the Committee on Ways and Means
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A BILL
To amend the Internal Revenue Code of 1986 to adjust the percentage depletion rate for certain rare earths, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Critical Minerals Investment Tax Modernization Act of 2025''.
SEC. 2. ADJUSTMENT OF PERCENTAGE DEPLETION RATE FOR CERTAIN RARE EARTHS.
(a) 22 Percent Depletion Rate.--Section 613(b)(1)(B) of the Internal Revenue Code of 1986 is amended by inserting ``rare earths (in this subparagraph defined as the 15 lanthanide elements), scandium,'' before ``tantalum''.
(b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act. <all>