What does Preamble of Critical Minerals Investment Tax Modernization Act of 2026 do?

This bill proposes to amend the Internal Revenue Code of 1986. The amendment aims to adjust the percentage depletion rate for certain rare earths. The bill includes provisions for 'other purposes' beyond the adjustment of depletion rates.

What does SHORT TITLE. of Critical Minerals Investment Tax Modernization Act of 2026 do?

This bill is formally titled the Critical Minerals Investment Tax Modernization Act of 2026.

What does ADJUSTMENT OF PERCENTAGE DEPLETION RATE FOR CERTAIN RARE of Critical Minerals Investment Tax Modernization Act of 2026 do?

This section amends Section 613(b)(1)(B) of the Internal Revenue Code of 1986. The amendment inserts 'rare earths (in this subparagraph defined as the 15 lanthanide elements), scandium' before 'tantalum'. The amendment applies to taxable years beginning after the date of enactment of this Act.

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Critical Minerals Investment Tax Modernization Act of 2026

Last updated: 3/10/2026 · Introduced: 3/10/2026

Author: Jon Husted (R-OH)

TL;DR (AI)

This bill modifies the Internal Revenue Code to adjust the percentage depletion rate for rare earths and scandium.
The changes apply to taxable years beginning after the bill's enactment.

119th Congressin committeeHR. 4772(In Committee)Official page

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Other Sections

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

3 sections

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