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Congressional Research Service
Version 00 · Introduced in Senate · Jul 28, 2022
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.
People & committees
Sen. Cortez Masto, Catherine [D-NV] · D–NV
Legislative record
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Read twice and referred to the Committee on Finance.
Introduced in Senate
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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