S. 4680 · 117th Congress
Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
Cortez MastoSponsorNo cosponsors.
Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022
What it does: CRS summary · Introduced in Senate · Jul 28, 2022
Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022
This bill allows a new tax credit for the domestic production of rare earth magnets manufactured in the ordinary course of a taxpayer's trade or business. The bill defines rare earth magnet as a permanent magnet comprised of (1) an alloy of neodymium, iron, and boron, which may also include praseodymium, terbium, or dysprosium; or (2) an alloy of samarium and cobalt, which may also include gadolinium or any associated host mineral of a component rare earth material.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022
Latest action (Jul 28, 2022): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jul 28, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.