[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 714 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                 S. 714

  To amend the Internal Revenue Code of 1986 to repeal the percentage 
            depletion allowance for certain hardrock mines.


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                   IN THE SENATE OF THE UNITED STATES

                             March 7, 2019

Mrs. Shaheen (for herself and Mr. Udall) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to repeal the percentage 
            depletion allowance for certain hardrock mines.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Elimination of Double Subsidies for 
the Hardrock Mining Industry Act of 2019''.

SEC. 2. REPEAL OF PERCENTAGE DEPLETION ALLOWANCE FOR CERTAIN HARDROCK 
              MINES.

    (a) In General.--Section 613(a) of the Internal Revenue Code of 
1986 is amended by inserting ``(other than hardrock mines located on 
lands subject to the general mining laws or on land patented under the 
general mining laws)'' after ``In the case of the mines''.
    (b) General Mining Laws Defined.--Section 613 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following:
    ``(f) General Mining Laws.--For purposes of subsection (a), the 
term `general mining laws' means those Acts which generally comprise 
chapters 2, 11, 12, 12A, 15, and 16, and sections 161 and 162, of title 
30, United States Code.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2019.
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