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S 4680 117th Congress Senate Taxation Income tax credits Manufacturing Materials Metals Strategic materials and reserves

Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022

Introduced: July 28, 2022 Introduced by: Cortez Masto, Catherine Democratic · Nevada See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 28, 2022
Read twice and referred to the Committee on Finance.
Jul 28, 2022
Introduced in Senate
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 Plain-English summary Congressional Research Service

Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022

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, iron, and boron, which may also include praseodymium, terbium, or dysprosium; or (2) an alloy of samarium and cobalt, which may also include gadolinium or any associated host mineral of a component rare earth material.

What's happening now July 28, 2022

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 5033 Related bill Rare Earth Magnet Manufacturing Production Tax Credit Act of 2021
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4680: Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-S-4680/
MLA
"S. 4680: Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-4680/.
Bluebook (legal)
S. 4680, 117th Cong. (2026), https://openamerica.io/bill/117-S-4680/.
Markdown link
[S. 4680: Rare Earth Magnet Manufacturing Production Tax Credit Act of 2022](https://openamerica.io/bill/117-S-4680/)
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