Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 7812
116th Congress(2019-2020)
ORE Act
Introduced
Introduced
Introduced in House on Jul 29, 2020
Overview
Text
Sponsor
Republican
Introduced
Jul 29, 2020
Latest Action
Jul 29, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7812
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Republican
John Joyce
Pennsylvania
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Onshoring Rare Earths Act of 2020 or the ORE Act

This bill allows permanent expensing of property used in the extraction of certain critical minerals and metals within the United States and of nonresidential real property used in extracting such minerals and metals. Expensing is the treatment of expenditures as operating costs deductible in full in the current taxable year.

The bill allows a new tax deduction for 200% of the cost of purchasing or acquiring such critical minerals and metals extracted from deposits in the United States.

The bill requires the Department of Defense (DOD) to establish a pilot project grant program for the development of critical minerals and metals in the United States. A grant awarded under such program may not exceed $10 million. In awarding grants, DOD must give priority to projects determined to be economically viable over the long term and must allot 30% of grants funds to the secondary recovery of critical minerals and metals.

Text (1)
Introduced in House
July 29, 2020
Related Bills (3)
Sep 08, 2020
Introduced in Senate
1
Sponsorship
Senate Bill 4537
RECOVERY Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Sep 01, 2020
Introduced in House
16
Sponsorship
House Bill 8143
To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment is made in property used for the mining, reclaiming, or recycling of critical minerals and metals from the United States, and for other purposes.
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
May 12, 2020
Introduced in Senate
1
Sponsorship
Introduced
Type
Identical Bill
Identical Bill
A bill that is word-for-word identical to another bill. Bills are characterized as identical to each other at the introduced stage only, even though a later (e.g., reported or passed) version of a bill might meet the same criteria for text similarity. Companion measures, procedurally-related measures, and legislation with text similarities are other related bill types.
Identified By
CRS
Actions (3)
07/29/2020
Referred to the Subcommittee on Select Revenue Measures.
07/29/2020
Referred to the Committee on Ways and Means, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
07/29/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:49 PM
Copyright © 2024 Civic Bits LLC
Privacy Policy
Terms of Service
What's New
About