S. 4033
IntroducedCritical Minerals Investment Tax Modernization Act of 2026
Full text of the bill
Official source on Congress.gov ↗[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4033 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4033 To amend the Internal Revenue Code of 1986 to adjust the percentage depletion rate for certain rare earths, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 10, 2026 Mr. Husted introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ 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 2026''. 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>
Plain-language analysis
Not yet analyzed.
A plain-language breakdown — including any hidden or off-intent provisions and whether the bill was fast-tracked — is generated separately and reviewed before publishing. It will appear here once ready. Until then, the verbatim text above and the official source are the record.