“A bill to amend the Internal Revenue Code of 1986 to expand and improve the advanced manufacturing production tax credit.”
No CRS summary available for this bill.
This section expands the advanced manufacturing production tax credit under section 45X by adding boron, copper, lead, potash, rhenium, silicon, silver, uranium, and phosphate (meeting specified purity and conversion standards) to the list of eligible critical minerals. It allows taxpayers extracting ore refined into applicable critical minerals to treat extraction costs as creditable production costs, provided the ore is extracted in the United States or in non-foreign-country-of-concern locations where the mineral is not commercially extracted domestically, and subject to refiner certification and anti-double-benefit rules. It also repeals the 2.5 percent credit reduction previously applied to metallurgical coal. All changes apply to minerals produced and sold, or costs incurred, after December 31, 2025.