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This bill amends the Internal Revenue Code of 1986 to adjust the percentage depletion rate for certain rare earths and scandium. Sec. 2, Adjustment of percentage depletion rate for certain rare earths: The bill adds 'rare earths (defined as the 15 lanthanide elements), scandium' to the list of minerals eligible for a 22 percent depletion rate under section 613(b)(1)(B) of the Internal Revenue Code. This change applies to taxable years beginning after the date the bill is enacted.
Summary of the bill text as introduced in House (Jul 25, 2025), generated by SecBot from the official bill text; the Library of Congress summary is not yet published.
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Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.