,i #aaith ,,congress #b;d ,session ,h4 ,r4 #gefc ,,in ,,the ,,house ,,of ,,representatives ,february #ab1 #bjbf,ms4 ,tokuda 7for herself and ,mr4 ,dunn of ,florida7 introduced the following bill2 which was referred to the ,committee on ,foreign ,affairs1 and in addition to the ,committees on ,ways and ,means1 and ,energy and ,commerce1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to prohibit the importation of certain rare earth magnets from covered nations1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,rare ,earth ,magnet ,market ,revitalization ,act4 #b4 ,findings2 sense of ,congress 7a7 ,findings ,congress finds the following3 7#a7 ,price and market manipulation by the ,people's ,republic of ,china has reduced the incentive for private investment in rare earth magnet processing1 refining1 and production in the ,united ,states and partner countries4 7#b7 ,this has created unacceptable vulnerabilities to the supply chains for commercial and military products that rely upon rare earth magnets4 7b7 ,sense of ,congress ,it is the sense of ,congress that the ,secretary of ,commerce should be empowered to ensure that ,united ,states-based manufacturers acquire rare earth magnets from ,united ,states or partner sources to the extent they are available4 #c4 ,limitation on importation of rare earth magnets 7a7 ,in general ,the ,president1 acting through the ,secretary of ,commerce1 shall take such steps as may be necessary to ensure that1 except as provided in subsection 7b71 no articles are imported into the customs territory of the ,united ,states that-- 7#a7 are rare earth components or rare earth magnets originating from one or more covered nations2 or 7#b7 incorporate rare earth magnets originating from one or more covered nations4 7b7 ,exceptions 7#a7 ,nonavailability 7,a7 ,in general ,except as provided in subparagraph 7,b71 the ,secretary shall waive the prohibition under subsection 7a7 on a case-by-case basis upon certification by the importer that-- 7i7 with respect to the importation of rare earth components or rare earth magnets1 such articles cannot be practicably sourced from a country that is not a covered nation2 or 7ii7 with respect to an article incorporating rare earth magnets1 such article cannot be practicably assembled without the incorporation of rare earth magnets originating from one or more covered nations4 7,b7 ,override ,the ,secretary may elect not to waive the prohibition despite a certification under subparagraph 7,a7 if the ,secretary determines that alternative practicable sourcing is available for the relevant article or articles4 7#b7 ,national interest ,the ,secretary may waive the prohibition under subsection 7a7 on a case-by-case basis if the ,secretary determines that such waiver is in the national interest4 7#c7 ,publication ,the ,secretary shall publish1 on a publicly available website of the ,department of ,commerce1 a list of each importer that has received a waiver under this subsection1 along with the amount and type of rare earth magnets imported pursuant to such waiver4 ,the ,secretary shall also publish to such website on an annual basis an aggregate report describing the waivers granted during the preceding year4 7c7 ,applicability ,the limitation under this section shall apply with respect to articles imported into the customs territory of the ,united ,states after the date that is #a year after the date of the enactment of this ,act4 #d4 ,limitation on exportation of electronic waste containing rare earth magnets ,the ,secretary of ,commerce is authorized to promulgate such regulations as may be necessary to prohibit the exportation of high-value electronic waste that contains rare earth magnets to the extent that the ,secretary determines that such waste could be recycled or repurposed in the ,united ,states to extract such rare earth magnets for use in new products4 #e4 ,authority to provide offtake agreements or price guarantees for rare earth magnets 7a7 ,in general ,subject to the availability of appropriations and to such regulations as the ,secretary of ,commerce may promulgate1 the ,secretary is authorized to provide ,federal financial assistance in the form of offtake agreements or price guarantees to any nongovernmental entity the ,secretary determines has invested in facilities and equipment for the manufacturing1 production1 processing1 or recycling of rare earth components or rare earth magnets in countries that are not covered nations4 7b7 ,publication ,not later than #cj days after making any award of assistance pursuant to the authorization under subsection 7a71 the ,secretary shall publish on a publicly available website of the ,department the terms and recipient of the assistance so awarded4 #f4 ,report ,not later than #c years after the date of the enactment of this ,act1 the ,secretary of ,commerce shall submit to the ,committee on ,energy and ,commerce of the ,house of ,representatives and the ,committee on ,commerce1 ,science1 and ,transportation of the ,senate a report describing the manner and extent to which the limitations under this ,act have been implemented1 the assessment of the ,secretary relating to their success at developing a secure supply of rare earth magnets1 and any recommendations with respect to expanding such limitations to include all critical minerals4 #g4 ,definitions ,in this ,act3 7#a7 ,covered nation ,the term covered nation has the meaning given that term in section #dhgb of title #aj1 ,united ,states ,code4 7#b7 ,rare earth component ,the term rare earth component means samarium1 cobalt1 neodymium1 iron1 and boron1 to the extent such materials are intended for use in the creation of a rare earth magnet4 7#c7 ,rare earth magnet ,the term rare earth magnet means samarium-cobalt magnets and neodymium-iron-boron magnets4