,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #cfid  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #ab1 #bjbj,mr4    
,cruz introduc$ ! foll[+ bill2 :i* 0    
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to p]man5tly all[ 
a tax d$uction at ! "t an inve/m5t is   
made 9 prop]ty us$ to extract critical  
m9]als & metals f ! ,unit$ ,/ates1 to   
modify ! prohibition on ! acquisition ( 
c]ta9 s5sitive mat]ials f non-alli$     
=eign nations1 & = o!r purposes4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,on%or+ ,r>e ,e>?s ,act ( #bjbj or !    
,,ore ,act4  #b4 ,p]man5t full exp5s+ = 
prop]ty us$ to extract critical m9]als &
 metals )9 ! ,unit$ ,/ates  7a7 ,9 g5]al
 ,section #afh7k7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ by add+ at ! end 
! foll[+3  7#aa7 ,special rule = prop]ty
 us$ 9 ! extraction ( critical m9]als & 
metals )9 ! ,unit$ ,/ates  7,a7 ,9 g5]al
 ,9 ! case ( any qualifi$ prop]ty :i* is
 directly involv$ 9 extract+ critical   

m9]als & metals f deposits 9 ! ,unit$   
,/ates-- 7i7 p>agraph 7#b77;,a77iii7    
%all n apply1 &  7ii7 ! applicable      
p]c5tage %all be #ajj p]c5t4  7,b7      
,critical m9]als & metals ,= purposes ( 
?is p>agraph1 ! t]m critical m9]als &   
metals means c]ium1 cobalt1 dysprosium1 
erbium1 europium1 gadol9ium1 graphite1  
holmium1 lan?anum1 li?ium1 lutetium1    
manganese1 neodymium1 praseodymium1     
prome?ium1 sam>ium1 sc&ium1 t]bium1     
?ulium1 ytt]bium1 & yttrium4  4  7b7    
,effective date ,! am5dm5t made by ?is  
section %all apply to prop]ty plac$ 9   
s]vice aft] ,decemb] #ca1 #bjai4  #c4   
,p]man5t full exp5s+ = nonresid5tial    
real prop]ty us$ 9 ! extraction (       
critical m9]als & metals )9 ! ,unit$    
,/ates  7a7 ,9 g5]al ,section #afh ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new           
subsection3  7n7 ,special all[ance =    
nonresid5tial real prop]ty us$ 9 !      
extraction ( critical m9]als & metals )9
 ! ,unit$ ,/ates  7#a7 ,new /ructures ,9

 ! case ( any qualifi$ real prop]ty--   
7,a7 7i7 if su* prop]ty is plac$ 9      
s]vice on or aft] ! date ( enactm5t (   
?is subsection1 ! depreciation d$uction 
provid$ by section #afg7;a7 = ! taxable 
ye> 9 :i* su* prop]ty is plac$ 9 s]vice 
%all include an all[ance equal to #ajj  
p]c5t ( ! adju/$ basis ( su* prop]ty1 or
  7ii7 if su* prop]ty 0 plac$ 9 s]vice  
be=e ! date ( enactm5t ( ?is subsection1
 ! depreciation d$uction provid$ by     
section #afg7;a7 = ! fir/ taxable ye>   
beg9n+ aft] su* date %all include an    
all[ance equal to #ajj p]c5t ( ! adju/$ 
basis ( su* prop]ty1 &  7,b7 ! adju/$   
basis ( su* prop]ty %all be r$uc$ by !  
am\nt ( su* d$uction be=e comput+ !     
am\nt o!rwise all[able z a depreciation 
d$uction "u ?is *apt] = su* taxable ye> 
& any subsequ5t taxable ye>4  7#b7      
,qualifi$ real prop]ty ,= purposes ( ?is
 subsection1 ! t]m qualifi$ real prop]ty
 means any nonresid5tial real prop]ty   
:i* is directly involv$ 9 extract+      
critical m9]als & metals 7z def9$ 9     

subsection 7k77#aa77;,b77 f deposits 9 !
 ,unit$ ,/ates4  4  7b7 ,effective date 
,! am5dm5t made by ?is section %all     
apply to taxable ye>s beg9n+ aft]       
,decemb] #ca1 #bjai4  #d4 ,d$uction =   
pur*ase ( critical m9]als & metals      
extract$ )9 ! ,unit$ ,/ates  7a7 ,9     
g5]al ,"p ,,vi ( sub*apt] ,b ( *apt] #a 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$ by ins]t+ aft] section #agf !     
foll[+ new section3  #agg4 ,d$uction =  
pur*ase ( critical m9]als & metals      
extract$ )9 ! ,unit$ ,/ates  7a7        
,all[ance ( d$uction ,!re %all be all[$ 
z a d$uction = ! taxable ye> an am\nt   
equal to #bjj p]c5t ( ! co/ paid or     
incurr$ by ! taxpay] = ! pur*ase or     
acquisition ( critical m9]als & metals  
7z def9$ 9 section #afh7k77#aa77;,b77   
:i* h be5 extract$ f deposits 9 ! ,unit$
 ,/ates4  7b7 ,application ) o!r        
d$uctions ,no d$uction %all be all[$ "u 
any o!r provision ( ?is *apt] ) respect 
to any exp5diture ) respect to :i* a    
d$uction is all[$ or all[able "u ?is    

section to ! taxpay]4  4  7b7 ,con=m+   
am5dm5t ,! table ( sections = "p ,,vi ( 
sub*apt] ,b ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] ! item relat+ to section #agf !   
foll[+ new item3  ,sec4 #agg4 ,d$uction 
= pur*ase ( critical m9]als & metals    
extract$ )9 ! ,unit$ ,/ates4  4  7c7    
,effective date ,! am5dm5ts made by ?is 
section %all apply to am\nts paid or    
incurr$ aft] ,decemb] #ca1 #bjai4  #e4  
,modification ( prohibition on          
acquisition ( c]ta9 s5sitive mat]ials   
7a7 ,ext5sion ( prohibition to m9$1     
ref9$1 & sep>at$ mat]ials ,subsection   
7a77#a7 ( section #becc;c ( title #aj1  
,unit$ ,/ates ,code1 is am5d$ by /rik+  
melt$ or produc$ & ins]t+ m9$1 ref9$1   
sep>at$1 melt$1 or produc$4  7b7        
,comm]cially available (f-!-,%elf item  
exception ,subsection 7c77#c77;,a77i7 ( 
su* section is am5d$ by /rik+ #ej p]c5t 
or m tung/5 & ins]t+ #ej p]c5t or m     
cov]$ mat]ial4  #f4 ,grant program =    
developm5t ( critical m9]als & metals   

7a7 ,e/abli%m5t ,! ,secret>y ( ,def5se1 
9 consultation ) ! ,secret>y ( !        
,int]ior1 %all e/abli% a grant program  
to f9ance pilot projects = ! developm5t 
( critical m9]als & metals 9 ! ,unit$   
,/ates4  7b7 ,limitation on grant aw>ds 
,a grant aw>d$ "u subsection 7a7 may n  
exce$ #aj1jjj1jjj4  7c7 ,economic       
viability ,9 aw>d+ grants "u subsection 
7a71 ! ,secret>y ( ,def5se %all give    
priority to projects ! ,secret>y        
det]m9es are likely to be economically  
viable ov] ! long t]m4  7d7 ,second>y   
recov]y ,9 aw>d+ grants "u subsection   
7a7 dur+ a fiscal ye>1 ! ,secret>y (    
,def5se %all seek to aw>d n less ?an #cj
 p]c5t ( ! total am\nt ( grants aw>d$   
dur+ t fiscal ye> = projects relat+ to  
second>y recov]y ( critical m9]als &    
metals4  7e7 ,au?orization (            
appropriations ,!re are au?oriz$ to be  
appropriat$ to ! ,secret>y ( ,def5se    
#ej1jjj1jjj = ea* ( fiscal ye>s #bjba   
?r\gh #bjbd to c>ry out ! grant program 
e/abli%$ "u subsection 7a74  7f7        

,def9itions ,9 ?is section3 7#a7        
,critical m9]als & metals ,! t]m        
critical m9]als & metals means c]ium1   
cobalt1 dysprosium1 erbium1 europium1   
gadol9ium1 graphite1 holmium1 lan?anum1 
li?ium1 lutetium1 manganese1 neodymium1 
praseodymium1 prome?ium1 sam>ium1       
sc&ium1 t]bium1 ?ulium1 ytt]bium1 &     
yttrium4  7#b7 ,second>y recov]y ,! t]m 
second>y recov]y means ! recov]y (      
m9]als & metals f disc>d$ end-use       
products or f wa/e products produc$ dur+
 ! metal ref9+ & manufactur+ process1   
includ+ f m9e wa/e piles1 acid m9e      
dra9age sludge1 or byproducts produc$   
?r\gh legacy m9+ & metallurgy           
activities4