Skip to main content
CivicGate

HR 4772
Introduced Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.

Critical Minerals Investment Tax Modernization Act of 2025

To amend the Internal Revenue Code of 1986 to adjust the percentage depletion rate for certain rare earths, and for other purposes.

Introduced Jul 25, 2025

Latest action (Jul 25, 2025) Referred to the House Committee on Ways and Means.

Referred to
Ways and Means Committee
Policy area
Taxation
Issues
Economy & Taxes

Summary

This bill amends the Internal Revenue Code to increase the percentage depletion rate for rare earth elements and scandium from their current rates to 22 percent. Rare earth elements are defined as the 15 lanthanide elements. This depletion allowance is a tax deduction that mining companies can claim based on the minerals they extract. The change applies to taxable years beginning after the bill's enactment.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
3 cosponsors

Actions (2)
  1. Jul 25, 2025 Referred to the House Committee on Ways and Means. · house
  2. Jul 25, 2025 Introduced in House

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • S 4033 — Critical Minerals Investment Tax Modernization Act of 2026 · Introduced Mar 10, 2026 · Cong. 119 74%
  • HR 4350 — Unearth America’s Future Act · Introduced Jul 10, 2025 · Cong. 119 74%
  • HR 4933 — Research and Development Tax Credit Expansion Act of 2025 · Introduced Aug 8, 2025 · Cong. 119 71%
  • HR 4280 — Bipartisan Tax Fairness Act of 2025 · Introduced Jul 2, 2025 · Cong. 119 70%
  • HR 364 — Territorial Tax Equity and Economic Growth Act of 2025 · Introduced Jan 13, 2025 · Cong. 119 70%
  • HR 451 — FAIR PREP Act of 2025 · Introduced Jan 15, 2025 · Cong. 119 69%

Text versions (1)
  • Introduced in House · Jul 25, 2025

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

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

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>

Comments

Comments

Loading comments…