Critical Minerals Investment Tax Modernization Act of 2026

This bill changes federal tax law so that companies mining rare earths and scandium can use a 22 percent percentage depletion rate when calculating their taxes. Percentage depletion lets a mine owner deduct a set share of the income from a mineral deposit. The bill defines rare earths as the 15 lanthanide elements and adds them, along with scandium, to the list of minerals that already get the 22 percent rate. The change would apply to tax years beginning after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Jon Husted Republican sponsor
• 0 cosponsors