What does Preamble of Critical Mineral and Extraction Tax Parity Act do?

This bill proposes to amend the Internal Revenue Code of 1986. The stated purpose is to expand and improve the advanced manufacturing production tax credit.

What does SHORT TITLE. of Critical Mineral and Extraction Tax Parity Act do?

This bill is formally titled the Critical Mineral and Extraction Tax Parity Act

What does EXPANSION AND IMPROVEMENT OF ADVANCE MANUFACTURING PRODUCTION of Critical Mineral and Extraction Tax Parity Act do?

This section amends Section 45X of the Internal Revenue Code of 1986, related to an advanced manufacturing production credit. It expands the list of critical minerals eligible for the credit to include Boron, Copper, Lead, Metallurgical coal, Potash, Rhenium, Silicon, Silver, and Uranium, as well as Phosphate under specific conditions. Phosphate is eligible if converted to phosphoric acid, phosphorus with a minimum purity of 99 percent phosphorus by mass, or phosphate rock purified to a minimum purity of 20 percent phosphorus pentoxide by mass. The amendments allow extraction costs for critical minerals to be treated as qualifying costs if certain conditions are met, including certification from the refiner and sales to unrelated persons. Ore extracted outside the United States is eligible only if it is of a type not extracted in the United States in commercial quantities and not extracted in a foreign country of concern. A reduction in the credit amount for metallurgical coal is repealed. These amendments generally apply to minerals produced and sold, or amounts paid or incurred, after December 31, 2025.

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Critical Mineral and Extraction Tax Parity Act

Last updated: 5/13/2026 · Introduced: 5/13/2026

Author: Blake Moore (R-UT)

TL;DR (AI)

The bill expands the advanced manufacturing production tax credit to include a wider range of critical minerals, such as Boron, Copper, and Uranium.
It allows extraction costs for critical minerals to be considered qualifying costs for the tax credit, provided certain conditions are met.
The bill modifies the credit's application to minerals produced and sold after December 31, 2025, and repeals a reduction in the credit amount for metallurgical coal.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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