H.R. 4772

119th CONGRESS 1st Session

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

IN THE HOUSE OF REPRESENTATIVES · July 25, 2025 · Sponsor: Mr. Smith of Nebraska · Committee: Committee on Ways and Means

Table of contents

• H.R. 4772
  • SEC. 1. Short title
  • SEC. 2. Adjustment of percentage depletion rate for certain rare earths

SEC. 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
  • of the Internal Revenue Code of 1986 is amended by inserting before . Section 613(b)(1)(B)
• (b) Effective date
  • The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.