IN THE SENATE OF THE UNITED STATES
March 7, 2019
Mrs. Shaheen (for herself and Mr. Udall) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to repeal the percentage depletion allowance for certain hardrock mines.
This Act may be cited as the
Elimination of Double Subsidies for the Hardrock Mining Industry Act of 2019.
Repeal of percentage depletion allowance for certain hardrock mines
Section 613(a) of the Internal Revenue Code of 1986 is amended by inserting
(other than hardrock mines located on lands subject to the general mining laws or on land patented under the general mining laws) after
In the case of the mines.
General mining laws defined
Section 613 of the Internal Revenue Code of 1986 is amended by adding at the end the following:
General mining laws
For purposes of subsection (a), the term general mining laws means those Acts which generally comprise chapters 2, 11, 12, 12A, 15, and 16, and sections 161 and 162, of title 30, United States Code.
The amendments made by this section shall apply to taxable years beginning after December 31, 2019.