Adjusts the percentage depletion rate for certain rare earths in the Internal Revenue Code.
The Critical Minerals Investment Tax Modernization Act of 2026 amends the Internal Revenue Code to adjust the percentage depletion rate for certain rare earths, specifically the 15 lanthanide elements and scandium. This change applies to taxable years beginning after the date of enactment of the Act.
The filed bill text is too short for analysis.