Coal used in steel joins the critical mineral list at 2.5 percent
What the document says“Metallurgical coal which is suitable for use in the production of steel (within the meaning of the notice published by the Department of Energy entitled `Critical Material List; Addition of Metallurgical Coal Used for Steelmaking'”
The section adds a new subparagraph (R) to section 45X(c)(6) of the Internal Revenue Code of 1986 covering metallurgical coal suitable for making steel within the meaning of a Department of Energy notice at 90 Fed. Reg. 22711, whether the steelmaking happens inside or outside the United States, and renumbers the subparagraphs that follow. It also amends section 45X(b)(1)(M) so that the rate for metallurgical coal is 2.5 percent rather than 10 percent.
What the document actually says“Metallurgical coal which is suitable for use in the production of steel (within the meaning of the notice published by the Department of Energy entitled `Critical Material List; Addition of Metallurgical Coal Used for Steelmaking'”
Coal fit for making steel is added to the list. An energy agency notice says what that means.
The steel may be made here or abroad. The rate for this coal is 2.5 percent. Other minerals on the list draw 10 percent.
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