Critical Mineral and Extraction Tax Parity Act

This bill, titled the "Critical Mineral and Extraction Tax Parity Act," aims to enhance the existing advanced manufacturing production tax credit (Section 45X) by broadening the scope of eligible critical minerals and associated activities. It specifically adds nine new critical minerals, including Boron, Copper, Lead, and Uranium , along with certain forms of Phosphate , to the list of those eligible for the tax credit. A significant change introduced is the inclusion of ore extraction costs for critical minerals as eligible expenses under the credit. To qualify, the ore must be extracted domestically, or if extracted abroad, it must be a type not commercially available in the U.S. and not sourced from a "foreign country of concern." This provision requires refiner certification that the ore was processed into an applicable critical mineral and sold to an unrelated party. Additionally, the bill repeals the current reduction in the credit amount specifically for metallurgical coal , ensuring it receives the full tax credit rate. These amendments, effective after December 31, 2025, aim to incentivize domestic critical mineral production and processing.