HR 8277
To amend the Internal Revenue Code of 1986 to designate copper as an applicable critical mineral and to include ore extraction costs for purposes of the advanced manufacturing production credit.
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Bill overview
This bill amends the Internal Revenue Code to designate copper as a critical mineral and to expand the advanced manufacturing production credit. Specifically, it allows companies that extract copper ore to include those extraction costs in their credit calculations. The changes take effect on December 31, 2025, and include provisions to ensure that extraction costs are properly accounted for and prevent double-counting of benefits.
Key provisions
- Designates copper as an applicable critical mineral.
- Allows inclusion of ore extraction costs in the advanced manufacturing production credit.
- Requires a certification from a refiner to claim extraction costs.
- Limits the eligibility for cost inclusion to ore extracted in the United States or certain foreign ores not commercially extracted in the US.
- Establishes regulations to prevent taxpayers from claiming double benefits for extraction costs.
Who is affected
- Manufacturers
- Mining companies
- Taxpayers
- Refiners
- The United States government
Notable changes
- Expands the definition of eligible costs for the advanced manufacturing production credit.
- Introduces a certification requirement for claiming extraction costs.
- Adds geographic restrictions on ore extraction for cost inclusion.
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119th CONGRESS — 2d Session
H. R. 8277
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to designate copper as an applicable critical mineral and to include ore extraction costs for purposes of the advanced manufacturing production credit.
such ore has been refined into an applicable critical mineral, and
such refiner sold the applicable critical mineral to an unrelated person (as defined in subsection (a)(3)) and such sale occurred in a trade or business of the refiner.
The cost of extracting ore shall be taken into account under subparagraph (A) only if—
such ore was extracted in the United States, or
in the case of ore extracted outside of the United States—
the ore is of a type not extracted in the United States in commercial quantities, and
The Secretary shall issue such regulations or guidance as may be necessary or appropriate to ensure that no costs which are treated as costs described in section (b)(1)(M) by reason of subparagraph (A) are included, directly or indirectly, in the costs of production of any applicable critical mineral by any taxpayer except as provided by such subparagraph.
The amendments made by this section shall apply to costs incurred after December 31, 2025.