3.0.0 8143 2023-01-11T13:45:03Z 2023-01-11T13:45:03Z House HR 2020-09-01 116 [Congressional Record Volume 166, Number 152 (Tuesday, September 1, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GOODEN:H.R. 8143.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, clause 18 A[Page H4318]]]> hsii00 Natural Resources Committee House Standing hsii06 Energy and Mineral Resources Subcommittee Referred to 2020-09-10T17:01:40Z Referred to 2020-09-01T16:33:00Z hswm00 Ways and Means Committee House Standing Referred to 2020-09-01T16:32:50Z RECOVERY Act 116 4537 S 2020-09-08 Read twice and referred to the Committee on Finance. Related bill CRS ORE Act 116 7812 HR 2020-07-29 Referred to the Subcommittee on Select Revenue Measures. Related bill CRS ORE Act 116 3694 S 2020-05-12 Read twice and referred to the Committee on Finance. Related bill CRS 2020-09-10 hsii06 Energy and Mineral Resources Subcommittee 1 House committee actions Referred to the Subcommittee on Energy and Mineral Resources. Committee 2020-09-01 Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsii00 Natural Resources Committee 2020-09-01 Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2020-09-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-09-01 Introduced in House IntroReferral 1000 9 Library of Congress G000589 Rep. Gooden, Lance [R-TX-5] Lance Gooden R TX 5 N G000581 Rep. Gonzalez, Vicente [D-TX-15] Vicente Gonzalez D TX 15 2020-09-01 True H001073 Rep. Hurd, Will [R-TX-23] Will Hurd R TX 23 2020-09-01 True C001063 Rep. Cuellar, Henry [D-TX-28] Henry Cuellar D TX 28 2020-09-01 True O000168 Rep. Olson, Pete [R-TX-22] Pete Olson R TX 22 2020-09-01 True W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2020-09-01 True W000814 Rep. Weber, Randy K., Sr. [R-TX-14] Randy Weber R TX K. 14 2020-09-01 True G000578 Rep. Gaetz, Matt [R-FL-1] Matt Gaetz R FL 1 2020-09-11 False G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 2020-09-11 False T000479 Rep. Taylor, Van [R-TX-3] Van Taylor R TX 3 2020-09-11 False W000827 Rep. Wright, Ron [R-TX-6] Ron Wright R TX 6 2020-09-11 False C001109 Rep. Cheney, Liz [R-WY-At Large] Liz Cheney R WY 0 2020-09-11 False B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2020-09-11 False Y000033 Rep. Young, Don [R-AK-At Large] DON YOUNG R AK E. 0 2020-09-11 False R000610 Rep. Reschenthaler, Guy [R-PA-14] Guy Reschenthaler R PA 14 2020-09-30 False S001193 Rep. Swalwell, Eric [D-CA-15] Eric Swalwell D CA 15 2020-12-03 False Taxation Business expenses Business investment and capital Buy American requirements Department of the Interior Income tax deductions Materials Metals Mining Public contracts and procurement Strategic materials and reserves Taxation 00 2020-09-01 Introduced in House 2020-10-23T16:10:02Z This bill allows permanent expensing of property used in the mining, reclaiming, or recycling of certain critical minerals and metals within the United States and of nonresidential real property used in mining such minerals and metals. Expensing is the treatment of expenditures as operating costs deductible in full in the current taxable year.

The bill allows a new tax deduction for 200% of the cost of purchasing or acquiring such critical minerals and metals extracted from deposits in the United States.

The bill requires the Department of the Interior to establish a pilot project grant program for the development of critical minerals and metals in the United States. A grant awarded under such program may not exceed $10 million. In awarding grants, Interior must give priority to projects determined to be economically viable over the long term and must allot 30% of grants funds to the secondary recovery of critical minerals and metals.

]]> To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment is made in property used for the mining, reclaiming, or recycling of critical minerals and metals from the United States, and for other purposes. Display Title To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment is made in property used for the mining, reclaiming, or recycling of critical minerals and metals from the United States, and for other purposes. Official Title as Introduced To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment is made in property used for the mining, reclaiming, or recycling of critical minerals and metals from the United States, and for other purposes. Introduced in House IH Introduced in House 2020-09-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr8143ih/xml/BILLS-116hr8143ih.xml 2020-09-10 Referred to the Subcommittee on Energy and Mineral Resources. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.