Expands the advanced manufacturing production tax credit to include additional critical minerals and ore extraction costs.
The Critical Mineral and Extraction Tax Parity Act amends the Internal Revenue Code to expand the advanced manufacturing production tax credit. It includes additional critical minerals such as boron, copper, lead, metallurgical coal, potash, rhenium, silicon, silver, and uranium. The bill also allows for the inclusion of ore extraction costs in the credit, provided the ore is refined into an applicable critical mineral and the refiner certifies the sale to an unrelated person. The changes apply to minerals produced and sold after December 31, 2025.
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