To amend the Internal Revenue Code of 1986 to designate copper as an applicable critical mineral and to include ore extraction costs for purposes of the advanced manufacturing production credit.

This bill changes the federal tax credit for producing certain manufactured components and critical minerals (the advanced manufacturing production credit). It adds copper to the list of critical minerals that qualify for the credit, for copper produced and sold after December 31, 2025. It also lets companies that mine ore count their extraction costs toward the credit if the ore is later refined into a qualifying mineral and the refiner certifies that it sold the mineral to an unrelated buyer. Ore mined abroad counts only if that type of ore is not mined in the U.S. in commercial amounts and it did not come from a foreign country of concern. The Treasury must issue rules to prevent the same costs from being counted twice.

Full text and official record on Congress.gov

Sponsors

• David Schweikert Republican sponsor
• 1 cosponsors