The credit for critical minerals winds down from 2031 to zero after 2033
What the document says“in the case of any applicable critical mineral produced during calendar year 2031, 75 percent,”
The section rewrites subparagraph (C) of section 45X(b)(3) of the Internal Revenue Code of 1986 so that for an applicable critical mineral other than metallurgical coal produced after December 31, 2030 the amount is the ordinary amount multiplied by a phase out percentage of 75 percent for 2031, 50 percent for 2032, 25 percent for 2033 and zero after December 31, 2033.
What the document actually says“in the case of any applicable critical mineral produced during calendar year 2031, 75 percent,”
A mineral made in 2031 gets 75 percent of the credit.
In 2032 it drops to half. In 2033 it drops to a quarter. After 2033 nothing is left.
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