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- H.R.8143
H.R.8143: To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment is made in property used for the mining, reclaiming, or recycling of critical minerals and metals from the United States, and for other purposes.
About This Bill
- Introduced Sept. 1, 2020
- Latest Major Action Sept. 10, 2020
Bill Sponsor
Bill Cosponsors
15 (3 Democrats, 12 Republicans)
Bill Version
- Introduced in House - Sept. 1, 2020
Bill Summary
This bill allows permanent expensing of property used in the mining, reclaiming, or recycling of certain critical minerals and metals within the United States and of nonresidential real property used in mining such minerals and metals. Expensing is the treatment of expenditures as operating costs deductible in full in the current taxable year. The bill allows a new tax deduction for 200% of the cost of purchasing or acquiring such critical...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| Sept. 10, 2020 |
Referred to the Subcommittee on Energy and Mineral Resources.
|
| Sept. 1, 2020 |
Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
|
| Sept. 1, 2020 |
Introduced in the House by Lance Gooden (R-Texas) |