119-HR4772
Critical Minerals Investment Tax Modernization Act of 2025
Last action was on 7-25-2025
SenateCurrent status is Referred to the House Committee on Ways and Means.
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119th CONGRESS
1st Session
H. R. 4772
1. Short title2. Adjustment of percentage depletion rate for certain rare earths1. Short title
This Act may be cited as the "Critical Minerals Investment Tax Modernization Act of 2025".
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.