Rare Earth Magnet Manufacturing Production Tax Credit Act of 2023

3.0.0 2849 2026-01-09T23:34:48Z 2026-01-09T23:34:48Z House H HR 2023-04-25 118 https://www.congress.gov/bill/118th-congress/house-bill/2849 <pre>[Congressional Record Volume 169, Number 69 (Tuesday, April 25, 2023)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Mr. RESCHENTHALER:H.R. 2849.Congress has the power to enact this legislation pursuantto the following:Article 1 Section 8The single subject of this legislation is:To amend the Internal Revenue Code of 1986 to establish acredit for the domestic production of rare earth magnets, andfor other purposes.[Page H1949]</pre> hswm00 Ways and Means Committee House Standing Referred To 2023-04-25T16:00:30Z Rare Earth Magnet Manufacturing Production Tax Credit Act of 2023 118 3521 S 2024-01-18 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS 2023-04-25 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2023-04-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-04-25 Introduced in House IntroReferral 1000 9 Library of Congress R000610 Rep. Reschenthaler, Guy [R-PA-14] Guy Reschenthaler R PA 14 N S001193 Rep. Swalwell, Eric [D-CA-14] Eric Swalwell D CA 14 2023-04-25 True C001063 Rep. Cuellar, Henry [D-TX-28] Henry Cuellar D TX 28 2023-04-26 False M001204 Rep. Meuser, Daniel [R-PA-9] Daniel Meuser R PA 9 2023-05-09 False J000292 Rep. Johnson, Bill [R-OH-6] Bill Johnson R OH 6 2023-05-15 False L000590 Rep. Lee, Susie [D-NV-3] Susie Lee D NV 3 2023-05-15 False C001117 Rep. Casten, Sean [D-IL-6] Sean Casten D IL 6 2023-05-15 False C001103 Rep. Carter, Earl L. "Buddy" [R-GA-1] Earl Carter R GA L. "Buddy" 1 2023-05-15 False C000059 Rep. Calvert, Ken [R-CA-41] KEN CALVERT R CA 41 2023-05-31 False G000581 Rep. Gonzalez, Vicente [D-TX-34] Vicente Gonzalez D TX 34 2023-05-31 False M001215 Rep. Miller-Meeks, Mariannette [R-IA-1] Mariannette Miller-Meeks R IA 1 2023-09-13 False B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2024-02-05 False K000391 Rep. Krishnamoorthi, Raja [D-IL-8] Raja Krishnamoorthi D IL 8 2024-02-06 False G000579 Rep. Gallagher, Mike [R-WI-8] Mike Gallagher R WI 8 2024-03-01 False C001066 Rep. Castor, Kathy [D-FL-14] Kathy Castor D FL 14 2024-03-11 False D000530 Rep. Deluzio, Christopher R. [D-PA-17] Christopher Deluzio D PA R. 17 2024-03-26 False H001085 Rep. Houlahan, Chrissy [D-PA-6] Chrissy Houlahan D PA 6 2024-04-05 False P000613 Rep. Panetta, Jimmy [D-CA-19] Jimmy Panetta D CA 19 2024-04-05 False V000131 Rep. Veasey, Marc A. [D-TX-33] Marc Veasey D TX A. 33 2024-04-16 False L000598 Rep. LaLota, Nick [R-NY-1] Nick LaLota R NY 1 2024-05-24 False G000558 Rep. Guthrie, Brett [R-KY-2] Brett Guthrie R KY 2 2024-06-03 False M001194 Rep. Moolenaar, John R. [R-MI-2] John Moolenaar R MI R. 2 2024-06-25 False S001212 Rep. Stauber, Pete [R-MN-8] Pete Stauber R MN 8 2024-07-08 False V000129 Rep. Valadao, David G. [R-CA-22] David Valadao R CA G. 22 2024-08-23 False H001067 Rep. Hudson, Richard [R-NC-9] Richard Hudson R NC 9 2024-10-04 False O000019 Rep. Obernolte, Jay [R-CA-23] Jay Obernolte R CA 23 2024-10-22 False P000619 Rep. Peltola, Mary Sattler [D-AK-At Large] Mary Peltola D AK Sattler 0 2024-10-29 False T000469 Rep. Tonko, Paul [D-NY-20] Paul Tonko D NY 20 2024-11-01 False Taxation Income tax credits 2024-12-10T17:58:19Z Manufacturing 2024-12-10T17:58:19Z Materials 2024-12-10T17:58:19Z Metals 2024-12-10T17:58:19Z Strategic materials and reserves 2024-12-10T17:58:19Z Taxation 2023-05-04T12:30:20Z

00 2023-04-25 Introduced in House 2023-05-04T14:59:39Z Rare Earth Magnet Manufacturing Production Tax Credit Act of 2023 This bill allows a new tax credit for the domestic production of rare earth magnets. The magnets must be manufactured or produced in the ordinary course of the taxpayer's trade or business. The credit is disallowed if any component rare earth material used to produce such magnets is produced in a non-allied foreign nation. The bill defines rare earth magnet as a permanent magnet comprised of an alloy of neodymium, iron, and boron, or an alloy of samarium and cobalt, which may also include other material.

Rare Earth Magnet Manufacturing Production Tax Credit Act of 2023 Display Title 45 Rare Earth Magnet Manufacturing Production Tax Credit Act of 2023 2024-06-11T15:11:30Z Short Title(s) as Introduced 101 Rare Earth Magnet Manufacturing Production Tax Credit Act of 2023 2024-05-24T13:40:38Z Introduced in House IH Official Title as Introduced 6 To amend the Internal Revenue Code of 1986 to establish a credit for the domestic production of rare earth magnets, and for other purposes. 2024-03-18T20:40:58Z Introduced in House IH Introduced in House 2023-04-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr2849ih/xml/BILLS-118hr2849ih.xml 2023-04-25 Referred to the House Committee on Ways and Means. 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.