# 119-s-4033: Critical Minerals Investment Tax Modernization Act of 2026

119-s-4033, Critical Minerals Investment Tax Modernization Act of 2026, is a 119th Congress bill sponsored by Sen. Husted, Jon [R-OH] (R-OH); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-4033
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4033
- Congress: 119
- Title: Critical Minerals Investment Tax Modernization Act of 2026
- Status: introduced
- Introduced: 2026-03-10
- Sponsor: Sen. Husted, Jon [R-OH] (R-OH)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Expands the 22 percent percentage depletion deduction to cover the 15 lanthanide rare-earth elements and scandium.** This bill would amend the Internal Revenue Code to add rare earths, defined as the 15 lanthanide elements, and scandium to the list of minerals eligible for the 22 percent depletion rate. The change would apply to taxable years beginning after enactment. It makes no other changes to the depletion rules or related tax provisions.

## Provisions PRIA read

- Tax break for rare earth miners: benefit, high. This bill would let miners and owners claim a 22% percentage depletion deduction for rare earths and scandium. Rare earths are defined as the 15 lanthanide elements together with scandium. The deduction would equal 22% of qualifying gross income from the property each tax year. It would apply for t…

## Related bills

- 119-s-1541: SHIPS for America Act of 2025
- 119-s-2121: SUPPORT for Patients and Communities Reauthorization Act of 2025
- 119-s-4952: Protecting American Taxpayers Act
- 119-s-4378: Protecting American Taxpayers Act
- 119-s-3903: Railway Safety Act of 2026
- 119-s-5154: CHAT Act 2.0

## Sources
- [119-s-4033 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4033)

## Related
- [119-s-1541: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-s-1541)
- [119-s-2121: SUPPORT for Patients and Communities Reauthorization Act of 2025](https://policyrisk.com/legislation/119-s-2121)
- [119-s-4952: Protecting American Taxpayers Act](https://policyrisk.com/legislation/119-s-4952)
- [119-s-4378: Protecting American Taxpayers Act](https://policyrisk.com/legislation/119-s-4378)
- [119-s-3903: Railway Safety Act of 2026](https://policyrisk.com/legislation/119-s-3903)
- [119-s-5154: CHAT Act 2.0](https://policyrisk.com/legislation/119-s-5154)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4033 (as of 2026-04-21).