HR 5033
Rare Earth Magnet Manufacturing Production Tax Credit Act of 2021
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
Rare Earth Magnet Manufacturing Production Tax Credit Act of 2021 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, praseodymium, iron, boron, terbium, or dysprosium; or (2) an alloy of samarium, gadolinium, and cobalt.
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Primary sponsor
Cosponsors
Bill Johnson
David B. McKinley
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