I 119th CONGRESS 1st Session H. R. 4350 IN THE HOUSE OF REPRESENTATIVES July 10, 2025 Ms. Stevens (for herself and Mr. Clyburn ) introduced the following bill; which was referred to the Committee on Ways and Means , and in addition to the Committees on Energy and Commerce , Natural Resources , Education and Workforce , and Science, Space, and Technology , 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 A BILL To establish a loan program to expand capabilities to manufacture critical materials to secure the United States supply chain, to amend the Internal Revenue Code of 1986 to provide credits for qualified investments into critical material facilities and production credits for manufacturing critical materials, and to authorize cross-cutting research, development, and demonstration activities relating to critical material supply chains, and for other purposes.

1. Short title; table of contents (a) Short title This Act may be cited as the Unearth America’s Future Act . (b) Table of contents The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Title I—Resilient Expansion of Strategic Industries Sec. 101. Sense of Congress. Sec. 102. National center for secure and transparent critical material supply chains. Sec. 103. Loan program for resilient critical material supply chains. Sec. 104. Required collaboration. Sec. 105. Material supply chain public-private partnership. Sec. 106. Authorization of appropriations. Sec. 107. Termination. Sec. 108. Definitions. Title II—Critical Material Tax Credits Sec. 201. Critical material investment tax credit. Sec. 202. Critical material production tax credit. Sec. 203. Consultation. Title III—Critical Material Research and Development Sec. 301. Clarifying mining research at the National Science Foundation. Sec. 302. Clarifying mining research at the Department of Energy. Sec. 303. Critical materials research and development. Sec. 304. Critical material standards and metrology. Sec. 305. Critical materials demonstration. Sec. 306. Definitions. I Resilient Expansion of Strategic Industries 101. Sense of Congress It is the sense of Congress that the Secretary of Commerce, in consultation with the Secretary of State, should carry out the actions and collaborations authorized by this title in a manner that— (1) strengthens the security and resiliency of the critical material supply chain for the national, energy, and economic security of the United States, including through— (A) prioritizing expanded domestic capabilities; and (B) expanding foreign capabilities to support such expanded domestic capabilities; (2) promotes innovative technologies, materials, and techniques to create secure supply chains while preventing environmental degradation; (3) supports industrial decarbonization throughout the supply chain; (4) defends worker rights through strong workplace protections, including through neutrality agreements, and removes human rights violations across the supply chain; (5) supports community engagement and consultation to prevent disenfranchisement and other environmental injustices from occurring; and (6) grows the economic strength and bolsters the leadership of the manufacturing sector of the United States, including its workforce. 102. National center for secure and transparent critical material supply chains (a) Establishment The Secretary of Commerce, in consultation with the Secretary of State, and through the collaboration required under section 104, shall establish a national center (in this title referred to as the Center ) in the Department of Commerce to support the security and resilience of the critical material supply chain by advancing policy recommendations, best practices, and other activities to create a critical material supply chain with the following characteristics: (1) Security and resiliency against supply chain disruptions. (2) Environmental sustainability. (3) Workforce security and safety. (4) Innovativeness. (b) Functions The functions of the Center shall be as follows: (1) To study and report on emerging trends, opportunities, and challenges of the critical material supply chain to provide the Federal Government a robust understanding of such supply chain, including— (A) market dynamics; (B) pricing and availability dynamics; and (C) transparency and traceability. (2) To study, report, and provide recommendations to the Federal Government on current and future policies that the United States and the partners and allies of the United States should evaluate to promote the security and resilience of the critical material supply chain. (3) To promote environmental sustainability in the critical material supply chain by— (A) disseminating information on relevant best practices; and (B) providing technical assistance and other resources, as determined by the head of the Center as appropriate and not duplicative of other technical assistance and resources provided by the Federal Government, to such industry to support the adoption of— (i) environmental protection practices, including the use of emerging technologies, to prevent environmental degradation within extraction processes; (ii) industrial decarbonization practices; (iii) innovative downstream applications of critical materials, including qualified substitutes to decrease reliance on supply chains vulnerable to foreign disruptions; and (iv) practices that improve the ability of critical materials to be recycled and reused to support circular economies (as defined in section 2 of the Save Our Seas 2.0 Act ( 33 U.S.C. 4201 )). (4) To strengthen the workforce for the critical material supply chain industry, including through education and workforce pathways and the dissemination of best practices, in collaboration with the Secretary of Labor, that ensure wage rates are determined by free bargaining between labor and management. (5) To strengthen the innovation ecosystem related to the critical material supply chain industry. (6) To collaborate with allies of the United States to support the development of resilient supply chains for critical materials, including through creating innovative partnerships with such allies and other organizations. (c) Study publication The head of the Center shall make publicly available on a website of the Center each report created by the Center pursuant to paragraph (1) or (2) of subsection (b). 103. Loan program for resilient critical material supply chains (a) Establishment Not later than 1 year after the date of the enactment of this Act and subject to the availability of appropriations, the Secretary of Commerce, acting through the head of the Center and in consultation with the Secretary of State and in collaboration with the heads of the Federal agencies and departments described in section 104(a), shall establish a program to make or guarantee loans made to covered entities to acquire, establish, or enhance facilities related to developing domestic and foreign critical material manufacturing capabilities for the national, energy, and economic security of the United States. (b) Eligibility A covered entity shall be eligible for a loan made or guaranteed under this section if the covered entity meets each of the following criteria: (1) The covered entity has a specific plan to use such loan for constructing, expanding, modernizing, or repurposing a facility, including the acquisition of relevant specialized equipment or a facility manufacturing such relevant specialized equipment, in the United States or in a foreign country of interest, for critical material manufacturing. (2) The covered entity has an executable plan that supports resilient supply chains for the national, energy, and economic security of the United States, including by identifying— (A) the type of critical material, including qualified substitute and byproducts, the covered entity will produce at the facility described in paragraph (1); (B) the customers or categories of customers, to which the covered entity plans to sell the critical materials so produced; (C) the benefit of such planned sales to the security and resilience of the critical material supply chain within the United States, including consideration of any secondary effects strengthening a relevant supply chain with an allied country; and (D) the risks to the supply chains of critical materials for the facility described in paragraph (1) with respect to which the covered entity is seeking a loan or loan guarantee under this section that the covered entity must mitigate, including risks associated with access, availability, confidentiality, integrity, transparency, and any lack of geographic diversification in such critical material supply chains. (3) The covered entity and the operation of the proposed facility will support and expand existing actions taken by the United States Government, including through the Department of Defense and the Department of Energy, to strengthen the resiliency of the critical material supply chain. (4) The covered entity— (A) can operate the facility on an ongoing basis, in accordance with subparagraphs (A), (B), and (C) of paragraph (2), without depending on additional Federal assistance; (B) can reasonably repay such loan; and (C) meets such other standards for financial health as determined appropriate by the Secretary. (5) The covered entity— (A) will not use funds received under such loan with respect to activities or operations located in a foreign country of concern or a nonmarket economy country; (B) is not organized under the laws of a foreign country of concern or a nonmarket economy country or of any jurisdiction within such a country; (C) is not owned, controlled, or operated by a foreign entity of concern; (D) is not otherwise in a partnership or association with a foreign entity of concern; and (E) is not engaged in any joint research or technology licensing effort for any innovative technology, material, or technique for the critical material supply chain with a foreign entity of concern or a foreign country of concern. (6) The covered entity has a specific plan to follow existing procurement policies as implemented by the core jobs mandate in section 2(a)(1) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635(a)(1) ). (c) Additional considerations for review In determining whether to make or guarantee a loan to a covered entity under this section with respect to a facility described in subsection (b)(1), the Secretary shall consider— (1) whether the covered entity has an executable plan with respect to such facility to carry out— (A) development of the local workforce by creating and expanding educational and workforce pathways, including pathways developed through engagement with relevant local entities in the community in which such facility is or will be located; and (B) to the greatest extent possible, environmental sustainability initiatives, including the use of a relevant industrial decarbonization practice or environmentally benign mining practices, as appropriate to such facility; and (2) with respect to a covered entity seeking a loan made or guaranteed for a facility located in a foreign country of interest, such additional factors as the Secretary, in consultation with the Secretary of State and the United States Trade Representative, may determine necessary to ensure that— (A) the covered entity will not use forced or child labor or use other practices that create unduly dangerous workplace conditions that are not consistent with the laws of the United States; (B) the covered entity will meet or exceed United States permissible air and water quality standards as defined under section 101 of the Clean Air Act ( 42 U.S.C. 7401 ) and section 101 of the Federal Water Pollution Control Act ( 33 U.S.C. 1251 ), and, to the greatest extent possible, prevent environmental degradation related to the construction and operation of the facility, including through the use of relevant industrial decarbonization practices and environmentally benign mining practices; (C) the covered entity is not subject to covered trade action; and (D) the facility will not be located in a foreign country of concern or a nonmarket economy country or be associated with a foreign entity of concern, including through existing or future partnerships between the covered entity and any foreign entity of concern or an associated subsidiary. (d) Expedited review The Secretary may waive subsection (c) with respect to a loan guarantee under this section for a loan with respect to a facility described in subsection (b)(1) if such facility is located within the United States. (e) Prioritization In making or guaranteeing loans under this section, the Secretary shall prioritize loans with respect to facilities that— (1) expand the domestic supply of critical materials that the Secretary determines necessary to the— (A) the national security and defense of the United States; (B) the energy security and independence of the United States; and (C) the economic competitiveness of the United States; (2) have not been supported by prior direct investment (excluding research, development, or demonstration support) by the Department of Defense, the Department of Energy, or any other Federal department or agency, unless the Secretary determines that making or guaranteeing such loan is in the best interest of carrying out the purposes described in paragraph (1), including a loan to a covered entity with respect to a facility or activity to expand the domestic supply of such critical minerals that was supported by a prior Federal award; and (3) purchase United States-made goods and services, including mining equipment, machinery, iron, steel, and other goods required to for critical material manufacturing. (f) Notification Not later than 15 days before making or guaranteeing a loan under this section that exceeds $100,000,000, the Secretary shall notify the appropriate committees of Congress of such loan. (g) Conditions of loans and loan guarantees (1) Application (A) In general A covered entity seeking a loan made or guaranteed under this section shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines appropriate, including such records and other information the Secretary determines appropriate to determine the eligibility of a covered entity and whether the facility with respect to which such covered entity is seeking such loan is in the interest of the United States. (B) Guaranteed loans In addition to the information required to be included in the application under subparagraph (A) and subject to subsection (d), a covered entity seeking a loan guaranteed under this section shall include in such application such information as the Secretary determines appropriate to determine whether the loan with respect to which such covered entity is seeking such guarantee is eligible to be guaranteed under this section, including the lender making such loan and the terms and conditions of such loan. (2) Rates, terms, and repayments of loans A loan made or guaranteed under this section shall— (A) be disbursed in installments pursuant to a schedule determined by the Secretary; (B) have an interest rate that does not exceed a level that the Secretary determines appropriate, taking into account, as of the date on which the loan is made, the cost of funds to the Department of the Treasury for obligations of comparable maturity; and (C) have a term of not more than 25 years. (3) Responsible lender No loan may be guaranteed under this section unless the Secretary determines that— (A) the lender that made such loan is responsible; and (B) such loan provides adequate provisions to protect the interest of the United States. (4) Limitation (A) Certification A loan made or guaranteed under this section may not exceed the following amounts unless the President certifies to the appropriate committees of Congress that a loan exceeding such amounts is necessary to significantly increase the supply of critical materials relevant to the national, energy, and economic security of the United States: (i) For a loan with respect to a facility located within the United States, the lesser of— (I) $1,000,000,000 or 50 percent of the total cost of the construction, expansion, modernization, or repurposing of such facility for which the covered entity is seeking such loan in the case of a loan made under this section; or (II) $1,000,000,000 or 75 percent of the total cost of the construction, expansion, modernization, or repurposing of such facility for which the covered entity is seeking such loan in the case of a loan guaranteed under this section. (ii) For a loan with respect to a facility located outside of the United States, the lesser of $250,000,000 or 25 percent of the total cost of the construction, expansion, modernization, or repurposing of such facility for which the covered entity is seeking such loan. (B) Maximum award Notwithstanding subparagraph (A), a loan made or guaranteed under this section may not exceed the following amounts: (i) For a loan with respect to a facility located within the United States, the lesser of— (I) $2,000,000,000 or 50 percent of the total cost of the construction, expansion, modernization, or repurposing of such facility for which the covered entity is seeking such loan in the case of a loan made under this section; or (II) $2,000,000,000 or 75 percent of the total cost of the construction, expansion, modernization, or repurposing of such facility for which the covered entity is seeking such loan in the case of a loan guaranteed under this section. (ii) For a loan with respect to a facility located outside of the United States, the lesser of $500,000,000 or 25 percent of the total cost of the construction, expansion, modernization, or repurposing of such facility for which the covered entity is seeking such loan. (5) Additional terms A loan made or guaranteed under this section may include any other terms and conditions that the Secretary determines to be appropriate. (6) Reasonable prospect of repayment criteria For the purposes of determining whether to make or guarantee a loan under this section, the Secretary shall determine whether a covered entity has a reasonable prospect of repaying such loan based on the following: (A) The protection of the financial interests of the United States provided by contractual terms of the project the covered entity plans to perform. (B) The expected financial strength of the covered entity— (i) at the time the loan or guarantee would be approved; and (ii) throughout the loan term after the project is completed. (C) The financial strength of the investors and strategic partners of the covered entity, if applicable. (D) Other financial metrics, analyses, or criteria relied upon by the private lending community and other nationally recognized credit rating agencies that the Secretary determines relevant to the evaluation of the financial strength of the covered entity. (h) Use of funds A covered entity that receives a loan made or guaranteed under this section may only use the awarded amounts for the following purposes of supporting activities described in subsection (a), as documented in the application submitted by the covered entity under subsection (g)(1), to— (1) finance the construction, expansion, modernization, or repurposing of a facility, including through the acquisition of relevant equipment and site development, for critical material manufacturing; (2) finance the construction, expansion, modernization, or repurposing of a facility to manufacture relevant specialized equipment described in subsection (b)(1), including site development; (3) finance the construction, expansion, modernization, or repurposing of a facility, including through the acquisition of relevant specialized equipment, for the research, development, and demonstration within the United States of innovative technologies, materials, or techniques related to establishing resilient critical material supply chain; (4) support the expansion or creation of educational and workforce pathways, including engagement with the community and relevant local entities through innovative partnerships, including apprenticeship programs; (5) support activities related to environmental protection and other sustainability practices, including the implementation of industrial decarbonization practices; or (6) pay reasonable costs related to the operating expenses for a facility described in paragraph (1), (2), or (3), including hiring a specialized workforce, acquiring essential materials, and performing complex equipment maintenance, as determined appropriate by the Secretary. (i) Loan agreement (1) In general As a condition to receive a loan made or guaranteed under this section, the covered entity receiving such loan shall enter into an agreement with the Secretary under which, during the 10-year period beginning on the date of the first disbursement of such loan, the covered entity— (A) will not engage in any significant transaction, as defined in the agreement, involving the expansion of existing critical materials capabilities of a foreign entity of concern or a foreign entity in a foreign country of concern or a nonmarket economy country; (B) will notify the Secretary of any planned transactions involving the covered entity relating to the expansion of existing critical materials capabilities by a foreign entity of concern, a foreign country of concern, or a nonmarket economy country; (C) will provide records and other necessary information at the request of the Secretary to review the compliance of the covered entity to terms of the agreement; and (D) will return the full amount of such loan that has been disbursed if— (i) the Secretary determines that such covered entity violated the agreement; (ii) such covered entity does not remedy such violation or the Secretary determines that such violation cannot be remedied; and (iii) the Secretary determines that the return of such amounts is necessary. (2) Violation of agreement If the Secretary determines that a covered entity violated the agreement such covered entity entered into under paragraph (1) with respect to a loan made or guaranteed under this section or failed to provide proof required pursuant to paragraph (3)(A)(iii) with respect to a planned transaction in accordance with such paragraph the Secretary— (A) shall— (i) in the case of a loan that is made under this section, revoke the undisbursed amount of such loan and, if the Secretary determines necessary under paragraph (1)(D)(iii), recover the full amount of such loan that has been disbursed; and (ii) in the case of a loan guaranteed under this section, revoke the guarantee of such loan; and (B) if the Secretary determines that such planned transaction would harm the national, energy, and economic security of the United States, may take other corrective action, including recommending corrective action to the heads of such other Federal departments or agencies, as may be appropriate to the duties of such departments or agencies. (3) Notification of planned transactions (A) In general Not later than 90 days after the date of receipt of a notification described in subparagraph (B) of paragraph (1) from a covered entity pursuant to an agreement between such covered entity and the Secretary entered into under such paragraph, the Secretary shall— (i) determine whether the planned transaction described in such notification would violate such agreement; (ii) notify the covered entity of the determination; and (iii) if the Secretary determines that such planned transaction would violate such agreement, require such covered entity to provide to the Secretary proof that such covered entity will not proceed with such planned transaction not later than 45 days after the Secretary provides the notification under clause (ii) with respect to such determination. (B) Congressional notification If the Secretary requires a covered entity to provide proof under subparagraph (A)(iii) with respect to a planned transaction, not later than 90 days after the earlier of the date on which the Secretary receives such proof or the date on which the Secretary takes action under subparagraph (2) pursuant to the failure of such covered entity to provide such proof, the Secretary shall submit to the appropriate committees of Congress— (i) a notification of the planned transaction; (ii) a brief description of how the Secretary determined that the planned transaction would be a violation; and (iii) a summary of any actions or planned actions in response to such planned transaction. (4) Opportunity for a hearing The Secretary may make a determination described in paragraphs (1)(D)(i), (1)(D)(ii), (2), or (3)(A) with respect to a covered entity only after such covered entity has had an opportunity for a hearing on the record with respect to such determination. (j) Clawback (1) Target dates As a condition of making or guaranteeing loans under this section, the Secretary shall establish target dates by which the construction, expansion, modernization, or repurposing, as applicable, of the facility with respect to which such loan was made shall commence and complete. (2) Progressive recover for delays (A) In general If the construction, expansion, modernization, or repurposing, as applicable, of the facility does not commence and complete within the target dates established under paragraph (1) or the revised target dates established under subparagraph (B)(ii), the Secretary shall progressively recover or disburse up to the full amount of the loan made or guaranteed under this section. (B) Waiver (i) In general The Secretary may waive subparagraph (A) with respect to a failure of a covered entity to commence the construction, expansion, modernization, or repurposing, as applicable, of a facility in accordance with the commencement date for such facility established under paragraph (1) if the Secretary makes a formal determination that such covered entity could not foresee or control the circumstances causing such failure, including a failure due to supply chain disruptions, other than such a failure resulting from the failure of the covered entity to cooperate with any relevant regulatory agencies for permit approval. (ii) Revised target dates If the Secretary waives subparagraph (A) with respect to the failure of a covered entity to commence the construction, expansion, modernization, or repurposing, as applicable, of a facility in accordance with the commencement date for such facility established under paragraph (1)— (I) the Secretary shall establish revised target dates by which the construction, expansion, modernization, or repurposing, as applicable, of the facility with respect to which such loan was made shall commence and complete; and (II) the relevant agreement under subsection (i)(1) shall be amended to reflect such revised target dates. (3) Congressional notification The Secretary shall notify appropriate committees of Congress— (A) of the target dates determined with respect to each loan made or guaranteed under this section that exceeds $100,000,000; and (B) not later than 15 days after the provision of a waiver under paragraph (2)(B), of the terms of such waiver. (k) Labor-Management cooperation (1) In general Notwithstanding any other provision of law, including the National Labor Relations Act ( 29 U.S.C. 151 et seq. ), this subsection shall apply to any recipient of a loan under this section who is an employer and any labor organization who represents or seeks to represent any employees or only those employees who perform or will perform work funded by a loan provided under this section. (2) Recognition Any employer receiving a loan under this section shall recognize for purposes of collective bargaining a labor organization that demonstrates that a majority of the employees in a unit appropriate for such purposes and who perform or will perform work funded by a loan provided under this section have signed valid authorizations designating the labor organization as their collective bargaining representative and that no other labor organization is certified or recognized pursuant to section 9 of the National Labor Relations Act ( 29 U.S.C. 159 ) as the exclusive representative of any of the employees in the unit who perform or will perform such work. Upon such showing of majority status, the employer shall notify the labor organization and the National Labor Relations Board that the employer— (A) has determined that the labor organization represents a majority of the employees in such unit who perform or will perform such work; and (B) is recognizing the labor organization as the exclusive representative of the employees in such unit who perform or will perform such work for the purposes of collective bargaining pursuant to that section. (3) Dispute resolution and unit certification If a dispute over majority status or the appropriateness of the unit described in paragraph (2) arises between the employer and the labor organization, either party may request that the National Labor Relations Board investigate and resolve the dispute. If the Board finds that a majority of the employees in a unit appropriate for purposes of collective bargaining who perform or will perform work funded by a loan provided under this section have signed valid authorizations designating the labor organization as their representative for such purposes and that no other individual or labor organization is certified or recognized as the exclusive representative of any of the employees in the unit who perform or will perform such work for such purposes, the Board shall not direct an election but shall certify the labor organization as the representative described in section 9(a) of the National Labor Relations Act ( 29 U.S.C. 159(a) ). (4) Meetings and collective bargaining agreements Not later than 10 days after an employer receiving funding under this section receives a written request for collective bargaining from a recognized or certified labor organization representing employees who perform or will perform work funded by a loan provided under this section, or within such period as the parties agree upon, the labor organization and employer shall meet and commence to bargain collectively and shall make every reasonable effort to conclude such bargaining and sign a collective bargaining agreement. (5) Mediation and conciliation If, after the expiration of the 90-day period beginning on the date on which collective bargaining under paragraph (4) began, or such additional period as the parties may agree upon, the parties have failed to reach an agreement, either party may notify the Federal Mediation and Conciliation Service (referred to in this subsection as the Service ) of the existence of a dispute and request mediation. Whenever such a request is received, it shall be the duty of the Service promptly to put itself in communication with the parties and to use its best efforts, by mediation and conciliation, to bring them to agreement. (6) Tripartite arbitration (A) In general If, after the expiration of the 30-day period beginning on the date on which the request for mediation is made under paragraph (5), or such additional period as the parties may agree upon, the Service is not able to bring the parties to agreement by mediation and conciliation, the Service shall refer the dispute to a tripartite arbitration panel established in accordance with such regulations as may be prescribed by the Service. (B) Members A tripartite arbitration panel established under this clause with respect to a dispute shall be composed of 1 member selected by the labor organization, 1 member selected by the employer, and 1 neutral member mutually agreed to by the labor organization and the employer. Each such member shall be selected not later than 14 days after the expiration of the 30-day period described in subparagraph (A) with respect to such dispute. Any member not so selected by the date that is 14 days after the expiration of such period shall be selected by the Service. (C) Decisions A majority of a tripartite arbitration panel established under this clause with respect to a dispute shall render a decision settling the dispute as soon as practicable, and (absent extraordinary circumstances or by agreement or permission of the parties) not later than 120 days after the establishment of such panel. Such a decision shall be binding upon the parties for a period of 2 years, unless amended during such period by written consent of the parties. Such decision shall be based on— (i) the financial status and prospects of the employer; (ii) the size and type of the operations and business of the employer; (iii) the cost of living of the employees; (iv) the ability of the employees to sustain themselves, their families, and their dependents on the wages and benefits they earn from the employer; and (v) the wages and benefits other employers in the same business provide their employees. (7) Contractors and subcontractors Any employer receiving funds under this section to procure goods or services shall require a contractor or subcontractor, whose employees perform or will perform work funded by a loan provided under this section, that contracts or subcontracts with the employer to comply with the requirements set forth in paragraphs (1) through (6). (8) Definitions In this subsection, the terms employee , employer , and labor organization have the meanings given the terms in section 2 of the National Labor Relations Act ( 29 U.S.C. 152 ). (9) Limitation of funds Funds appropriated to carry out this Act may not be used to assist, promote, or deter organizing of labor organizations. (l) Wage rate requirements (1) Davis-bacon All laborers and mechanics employed by the covered entity receiving funding under this section, or employed by contractors or subcontractors related to a covered project, shall be paid wages at rates not less than those prevailing on similar projects in the locality, as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code (commonly referred to as the Davis-Bacon Act ). (2) Authority The Secretary of Labor shall have, with respect to the labor standards specified in this subsection, the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (5 U.S.C. App.; relating to coordination of administration and consistency of enforcement of certain labor standards for Federal employees) and section 3145 of title 40, United States Code. (m) Oversight Not later than four years after the first disbursement of the first loan made or guaranteed under this section, the Inspector General of the Department of Commerce, in consultation with the Inspector General of the Department of State, shall audit the program and submit to the appropriate committees of Congress a report containing the results of such audit under this subsection to assess— (1) whether the national center has been established and operated in accordance with section 102; and (2) whether the loan program has been established and operated in accordance with this section, including— (A) whether the Secretary is making or guaranteeing loans under this section only to covered entities that meet the requirements in subsection (b); (B) whether the covered entities receiving loans made or guaranteed under this section are using the amounts of such loans in accordance with subsection (h); (C) whether the Secretary has complied with the limitations under subsection (g)(4) and under section 106(c); and (D) whether the Secretary is carrying out the agreements required under subsection (i), including any congressional notifications required by such subsection. 104. Required collaboration (a) Required collaboration In carrying out the activities under this title, the Secretary of Commerce, in consultation with the Secretary of State, shall coordinate the activities of the Center and the program established by section 103 with relevant Federal agencies and departments to leverage existing activities across the United States Government to strengthen the critical materials supply chain of the United States, including exchange of information regarding the United States critical materials supply chain, to the extent consistent with the protection of information under other applicable authorities. Such relevant Federal agencies and departments shall include— (1) the Department of Agriculture; (2) the Department of Defense; (3) the Department of Energy; (4) the Department of Health and Human Services; (5) the Department of Homeland Security; (6) the Department of the Interior; (7) the Department of Labor; (8) the Department of the Treasury; (9) the Export-Import Bank of the United States; (10) the United States International Development Finance Corporation; (11) the White House Council of Environmental Quality; (12) the White House Office of Science and Technology Policy; (13) the White House Office of the United States Trade Representative; and (14) other Federal agencies and departments that the Secretary determines necessary to carry out the activities in this title. (b) Oversight Not later than 4 years after the date of the disbursement of the first award under section 103, the Inspector General of the Department of Commerce, in consultation with the Inspector General of the Department of State, shall submit to the appropriate committees of Congress a report containing the results of an audit of whether the Secretary has sufficiently carried out the interagency coordination activities required by subsection (a) and consulted with the Secretary of State as required under this title to support the development of secure critical material supply chains in the interest of the national, energy, and economic security of the United States. 105. Material supply chain public-private partnership (a) Public-Private partnership (1) In general Not later than 1 year after the date of enactment of this section, the Secretary, acting through the head of the Center, in consultation with the Secretary of State, and through the collaboration required under section 104, shall establish a public-private partnership to— (A) support the development of a resilient supply chain; (B) bolster the national, energy, and economic security of the United States; and (C) support the development of supply chain characteristics in the interests of the United States, including— (i) transparency and traceability; (ii) environmental sustainability; (iii) workforce security and safety; and (iv) innovation. (2) Duties The public-private partnership shall— (A) engage with stakeholders from across the critical material supply chain, prioritizing domestic stakeholders, including through— (i) convening such stakeholders for regular meetings to inform the activities of the public-private partnership; and (ii) accepting membership from industry, nonprofit organizations, trade associations, academia, labor organizations, and equivalent international partners; (B) advise the Center on creating a robust understanding of a critical material supply chain, including through advancing the understanding of, with respect to such supply chain— (i) market dynamics including market manipulation by foreign countries of concern; (ii) pricing and availability dynamics; (iii) transparency and traceability; (iv) environmental sustainability; (v) education and workforce development; (vi) labor law compliance; and (vii) barriers to adopting innovative technologies, materials, and techniques; (C) establish partnerships with international partners, excluding foreign entities of concern or a foreign entity in a foreign country of concern, to advance the national, energy, and economic security of the United States; (D) operate the Investment Fund established under subsection (b); and (E) not later than one year after the public-private partnership is established, and annually thereafter, publish at least one report on the internet website of the Department of Commerce summarizing the activities undertaken by the public-private partnership during the most recent fiscal year prior to publication of such report, and such report shall include— (i) a summary of the advice provided to the Center established in section 102(a); (ii) a summary of the membership of the public-private partnership; (iii) a summary of the activities carried out by the Investment Fund established in subsection (b); and (iv) a summary of any international collaborations carried out by the public-private partnership. (3) Funding Subject to the availability of appropriations, out of the funds authorized to be appropriated pursuant to section 106(a), the Secretary shall allocate up to the following amounts to carry out this subsection: (A) $15,000,000 for fiscal year 2026. (B) $30,000,000 for fiscal year 2027. (C) $45,000,000 for fiscal year 2028. (D) $60,000,000 for fiscal year 2029. (E) $75,000,000 for the period of fiscal year 2030 and each fiscal year thereafter prior to the expiration of the program. (b) Investment fund (1) In general Not later than one year after the establishment of the public-private partnership under subsection (a), the public-private partnership shall establish an investment fund (in this section referred to as the Investment Fund ) to support existing Federal and private investments to acquire, establish, or enhance facilities related to developing domestic and foreign critical material manufacturing capabilities for the national, energy, and economic security of the United States. (2) Duties The Investment Fund shall— (A) accept and solicit funds from entities described in subsection (a)(2)(A)(ii) to invest and support facilities to expand domestic and foreign capabilities to manufacture critical materials for the national, energy, and economic security of the United States, in accordance with the eligibility requirements described in section 103(b); (B) buy and sell critical materials from the global marketplace, prioritizing domestic producers, to support the transition to resilient supply chains with stable market prices and store such purchased critical materials within the United States; (C) invest in innovative partnerships with critical material supply chain stakeholders with a prioritization for starts-ups, small and medium-sized enterprises, and other entities supporting innovative technologies, materials, or techniques; (D) provide innovative financial tools and other risk mitigation mechanisms, such as insurance products, that follow existing procurement policies as implemented pursuant to section 2(a)(1) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 625(a)(1) ), directly or in partnership with entities currently providing such tools and mechanisms, to stabilize market prices and support domestic capabilities; (E) support demonstration, deployment, and adoption activities related to innovative technologies, materials, including qualified substitutes, or techniques to promote sustainability and increased resiliency, with sufficient research collaboration safeguards to protect domestic proprietary information; (F) invest acquired profit from activities in subparagraphs (A) and (B) to further the mission of the Investment Fund; and (G) consult regularly with Federal agencies and departments identified in section 104, including the Export-Import Bank of the United States and the United States International Development Finance Corporation, to ensure alignment with existing Federal efforts designed to promote, fund, resource critical material manufacturing domestically or in a foreign country of interest. (3) Loan program eligibility (A) In general The Investment Fund shall— (i) be eligible to receive a loan under the loan program established in section 103(a) after submission of the application under subparagraph (B) of this paragraph; and (ii) not be eligible to apply for or receive a loan guarantee under the loan program in section 103(a). (B) Application To receive a Federal loan under the loan program established in section 103(a), the Investment Fund shall submit to the Secretary an application that includes— (i) a list of projects, in accordance with the eligibility requirements described in section 103(b)(2), that the fund will support through the receipt of a Federal loan under such program; and (ii) any other information the Secretary determines appropriate to evaluate the eligibility of the projects submitted under clause (i) for such loan program. (C) Award amount Each award made to the Investment Fund under the loan program established in section 103(a) shall— (i) be in an amount the Secretary determines appropriate; and (ii) not exceed 25 percent of the available loan authority of such loan program for a given fiscal year. (D) Eligible forgiveness Subject to the agreement requirements under subparagraph (G) and to the extent the Investment Fund maintains good standing, as determined by the Secretary, such Secretary may forgive all or part of a loan awarded to the Investment Fund under this paragraph in an eligible fiscal year, in accordance with the authorities of the agency. (E) Tax treatment For purposes of the Internal Revenue Code of 1986— (i) no amount shall be included in the gross income of the Investment Fund by reason of forgiveness of indebtedness described in subparagraph (D); (ii) no deduction shall be denied, no tax attribute shall be reduced, and no basis increase shall be denied, by reason of the exclusion from gross income provided by clause (i); and (iii) in the case that the Investment Fund is a partnership or S corporation— (I) any amount excluded from income by reason of clause (i) shall be treated as tax exempt income for purposes of sections 705 and 1366 of the Internal Revenue Code of 1986; and (II) except as provided by the Secretary of the Treasury, or a delegate of such Secretary, any increase in the adjusted basis of an interest of a partner in a partnership under section 705 of the Internal Revenue Code of 1986, with respect to any amount described in subclause (I), shall equal the distributive share of deductions of such partner resulting from costs giving rise to forgiveness described in subclause (I). (F) Effective date for tax treatment The provisions made by subparagraph (E) shall apply to taxable years beginning after December 31, 2025. (G) Required agreement Pursuant to section 103(i)— (i) the Secretary shall enter into the required agreement with the Investment Fund; and (ii) the Investment Fund shall take on full responsibility for the required agreement and the actions of the projects that use funds awarded by the loan program established in section 103(a) to the Investment Fund. (H) Disclosure Not later than one year after date on which the Investment Fund is established under paragraph (1), and annually thereafter, the Investment Fund shall provide an annual report to the Secretary which shall— (i) include all actions taken by the Investment Fund upon receipt of each award; (ii) include any additional information the Secretary determines appropriate to ensure robust oversight of the use of each loan awarded to the Investment Fund; and (iii) be published on the internet website of the Department of Commerce. (I) Clawback Pursuant to section 103(j), the Secretary shall have the authority to recover, or dispense of, up to the full amount of each loan awarded by the loan program established in section 103(a) for a given fiscal year if— (i) the Investment Fund fails to comply with the required agreement in subparagraph (G); or (ii) the Secretary is notified of the inability of the Investment Fund to use such an award in accordance with section 103(h). (J) Failure to comply If the Secretary is not satisfied with the actions taken by the Investment Fund, including failure by the Investment Fund to comply with the eligibility requirements for the loan program established under section 103(a) or the improper use of funds awarded by such loan program to the Investment Fund, the Investment Fund shall— (i) be ineligible for future awards by such loan program; and (ii) remain ineligible until— (I) the Investment Fund presents an executable plan that the Secretary determines appropriate to satisfy the requirements of section 103(b) or section 103(h); (II) the Secretary shall submit to Congress a report outlining the corrective actions the Investment Fund has taken to be eligible to apply for such loan program again; and (III) the Secretary determines that the Investment Fund is eligible to apply for such loan program again. (K) Labor-management cooperation Notwithstanding any other provision of law, including the National Labor Relations Act ( 29 U.S.C. 151 et seq. ), any recipient of a loan under this section who is an employer, and any labor organization who represents or seeks to represent any employees or only those employees who perform or will perform work funded by a loan provided under this section, shall be subject to the provisions of section 103(k) of this title. (L) Wage rate requirements (i) Davis-bacon All laborers and mechanics employed by the covered entity receiving funding under this section or employed by contractors or subcontractors related to a covered project, shall be paid wages at rates not less than those prevailing on similar projects in the locality, as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code (commonly referred to as the Davis-Bacon Act ). (ii) Authority The Secretary of Labor shall have, with respect to the labor standards specified in this subparagraph, the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (5 U.S.C. App.; relating to coordination of administration and consistency of enforcement of certain labor standards for Federal employees) and section 3145 of title 40, United States Code. (4) Oversight Not later than 2 years after the first loan is awarded to the Investment Fund under the loan program established in section 103(a), the Inspector General of the Department of Commerce shall audit the Investment Fund and submit to Congress a report— (A) that assesses whether the Investment Fund has complied with the requirements of this title, including— (i) the requirements under section 103(b) for maintaining eligibility for the joint loan program; (ii) the requirements under section 103(h) regarding the proper use of awarded or guaranteed funds; (iii) the exclusion of foreign entities of concern or foreign countries of concern; and (iv) any additional requirements that the Investment Fund must meet as determined appropriate by the Secretary; and (B) that proposes a course of action for the Secretary to— (i) remedy each violation by the Investment Fund found, if any; and (ii) monitor the progress of the Investment Fund towards remedying each violation found by the Secretary. (c) Exclusion of certain funds The Investment Fund under subsection (b) may not accept funds from, allow membership to, create research collaborations with, or partner with a foreign entity of concern or a foreign entity within a foreign country of concern or a nonmarket economy country. 106. Authorization of appropriations (a) Authorization of appropriations There is authorized to be appropriated to the Department of Commerce for the national center established in section 102 the following amounts for the applicable fiscal year: (1) $30,000,000 for fiscal year 2026. (2) $45,000,000 for fiscal year 2027. (3) $70,000,000 for fiscal year 2028. (4) $85,000,000 for fiscal year 2029. (5) $100,000,000 for each of fiscal years 2030 and any fiscal year thereafter before the date described in section 107. (b) Authorization of loan authority There is authorized to be appropriated to the Department of Commerce for the loan and loan guarantee program established in section 103 the following amounts for the applicable fiscal year: (1) $1,000,000,000 for fiscal year 2026. (2) $2,500,000,000 for fiscal year 2027. (3) $5,000,000,000 for fiscal year 2028. (4) $7,500,000,000 for fiscal year 2029. (5) $10,000,000,000 for fiscal year 2030 and any fiscal year thereafter before the date described in section 107. (c) Limitation and minimum thresholds for loan authority Of the amounts appropriated pursuant to the authorization under subsection (b) for any fiscal year, other than amounts provided to the Investment Fund established under section 105(b)(1), the Secretary shall ensure to the greatest extent practicable that— (1) a maximum of 30 percent of the available amounts are provided with respect to investments into facilities in foreign countries of interest that— (A) relate to the extraction of critical materials significantly unavailable for domestic extraction; and (B) prioritize secondary impacts to the United States, including through purchase agreements with domestic manufacturers; (2) a maximum of 20 percent of the available amounts are provided with respect to investment into facilities within the United States relating to the extraction of domestically available critical materials in the United States; (3) a minimum of 5 percent of the available amounts are provided with respect to investment into facilities related to the manufacturing of necessary equipment for the manufacturing of critical materials; and (4) a minimum of 10 percent of the available amounts are provided with respect to facilities located within the United States related to— (A) the reclamation of critical materials from spent and damaged end-use components through recycling processes; or (B) the demonstration, deployment, or commercialization of innovative technologies such as qualified substitutes. 107. Termination This title shall terminate on the date that is 10 years after the date of the enactment of this Act. 108. Definitions In this title: (1) Appropriate committees of Congress The term appropriate committees of Congress means— (A) the Committee on Energy and Natural Resources, the Committee on Commerce, Science, and Transportation, the Committee on Foreign Relations, the Committee on Armed Services, and the Committee on Appropriations of the Senate; and (B) the Committee on Energy and Commerce, the Committee on Foreign Affairs, the Committee on Armed Services, the Committee on Science, Space, and Technology, the Committee on Appropriations, the Committee on Natural Resources, and the Committee on Ways and Means of the House of Representatives. (2) Byproduct The term byproduct has the meaning given such term in section 7002(a)(1) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(1) ). (3) Conversion The term conversion means the process to alter a refined or purified critical material to a secondary compound that is subject to supply chain disruptions relevant to the national, energy, and economic security of the United States, including the manufacturing of magnets, alloys, or multicompound chemistries, including such chemistries at solid, liquid, or gaseous states. (4) Covered entity The term covered entity means a nonprofit entity, a private entity, a consortium of private entities, or a consortium of nonprofit, public, and private entities— (A) with a demonstrated ability to— (i) substantially finance, construct, expand, or modernize a facility relating to the extraction, processing or refining, conversion, recycling, or research and development of critical materials; or (ii) substantially finance and repurpose an existing facility, including former manufacturing sites, to construct, expand, or modernize the facility for extraction, processing or refining, conversion, recycling, or research and development of critical materials; and (B) that is determined by the Secretary of Commerce, in consultation with the Secretary of Defense, the Secretary of Energy, the Secretary of the Interior, the Secretary of State, and the Director of National Intelligence— (i) to be owned or operated by, or a subsidiary of, an entity located in the United States or a foreign entity that has an extensive presence in the United States; and (ii) not to be owned or operated by, or a subsidiary of— (I) any foreign entity of concern or an entity located in a foreign country of concern; or (II) any entity engaged in conduct that is detrimental to the national security or foreign policy of the United States, including entities that do not uphold international law relating to human rights or environmental protections. (5) Covered trade action The term covered trade action means any ongoing investigation or final order pursuant to the Trade Act of 1974 ( 19 U.S.C. 2101 et seq. ), section 701 of the Tariff Act of 1930 ( 19 U.S.C. 1671 ), section 731 of the Tariff Act of 1930 ( 19 U.S.C. 1673 ), or any other relevant trade law as determined by the Secretary. (6) Critical material The term critical material has the meaning given such term in section 7002(a)(2) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(2) ). (7) Critical material manufacturing The term critical material manufacturing means any manufacturing process related to any of the following: (A) Extraction of a critical material from the natural ecosystem, including as a byproduct. (B) Refining or processing a critical material. (C) The conversion of a critical material into a secondary compound. (D) The recycling of a critical material from used manufacturing components, including technology components. (E) Any other relevant manufacturing process that produces a qualified substitute for use in the critical material supply chain. (8) Foreign country of concern The term foreign country of concern has the meaning given such term in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( 15 U.S.C. 4651 ). (9) Foreign country of interest The term foreign country of interest means a foreign country or a political subdivision of a foreign country that is not a foreign country of concern and with respect to which the Secretary of Commerce, in collaboration with the Secretary of State and the United States Trade Representative, determines that— (A) the environmental protections of such country with respect to the production of critical materials meet or exceed similar protections in the United States; and (B) no products of the country are prohibited for importation into the United States pursuant to section 307 of the Tariff Act of 1930 ( 19 U.S.C. 1307 ). (10) Foreign entity The term foreign entity has the meaning given such term in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( 15 U.S.C. 4651 ). (11) Foreign entity of concern The term foreign entity of concern has the meaning given such term in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( 15 U.S.C. 4651 ). (12) Industrial decarbonization practice The term industrial decarbonization practice means— (A) any technology, practice, or technique that lowers the environmental impact or energy requirements of an industrial process; (B) any agreement with a local or regionally relevant electrical utility to acquire the majority of the required power for a facility from renewable sources; or (C) other technologies, practices, or techniques to promote sustainability and reduce and mitigate any environmental degradation that the Secretary of Commerce, in consultation with the Secretary of Energy, deems eligible. (13) Nonmarket country economy The term nonmarket country economy has the meeting given such term in section 771(18) of the Tariff Act of 1930 ( 19 U.S.C. 1677(18) ). (14) Nonprofit entity The term nonprofit entity means an entity described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code. (15) Person The term person includes an individual, partnership, association, corporation, organization, or any other combination of individuals. (16) Qualified substitute The term qualified substitute means any verifiable alternative to a critical material able to carry out an essential function (as such term is used in section 7002(a)(2)(ii) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(2)(ii) )) of a critical material. (17) Recycling The term recycling means the process of collecting and processing spent materials and devices and turning the materials and devices into raw materials or components that can be reused either partially or completely. (18) Refined or purified critical material The term refined or purified critical material means a critical material that has undergone any relevant manufacturing process to remove impurities and to meet industry standards of purity or concentration for downstream use cases post-extraction or recycling. (19) Secretary Unless otherwise specified, the term Secretary means the Secretary of Commerce, acting through the Center established in section 102. II Critical Material Tax Credits 201. Critical material investment tax credit (a) In general Subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 48E the following new section: 48F. Critical material investment credit (a) Establishment of credit (1) In general For purposes of section 46, the critical material investment credit for any taxable year is an amount equal to the applicable percentage of the qualified investment for such taxable year with respect to any critical material facility of an eligible taxpayer. (2) Applicable percentage (A) Base rate In the case of any critical material facility, the applicable percentage shall be 15 percent. (B) Alternative rate In the case of any critical material facility that meets either of the following criteria, the applicable percentage shall be 25 percent: (i) The critical material facility fulfills rules similar to the rules of section 45(b)(7). (ii) The primary purpose of the critical material facility is to produce— (I) a critical material that the Secretary, in consultation with the heads of other relevant Federal agencies and departments, determines has a supply which is significantly vulnerable to disruption (including restrictions associated with foreign political risk, abrupt demand growth, military conflict, violent unrest, anti-competitive or protectionist behaviors, and other risks throughout the supply chain), (II) a qualified substitute, or (III) a recycled critical material. (3) Definitions For the purpose of this section— (A) Critical material The term critical material has the meaning given such term in section 7002(a)(2) of the Energy Act of 2020. (B) Critical material facility The term critical material facility means a facility with respect to which the taxpayer makes an irrevocable election to have this subparagraph apply for which the primary purpose is— (i) extraction, processing, refining, or recycling of— (I) a critical material, or (II) a qualified substitute, (ii) converting a critical material into a magnet, an alloy, or a multicompound chemistry (in a solid, liquid, or gaseous state) that the Secretary, in consultation with the Secretary of Energy and the Secretary of the Interior, determines— (I) has a supply chain which is vulnerable to disruption (including restrictions associated with foreign political risk, abrupt demand growth, military conflict, violent unrest, anti-competitive or protectionist behaviors, and other risks throughout the supply chain); and (II) serves an essential function in the manufacturing of a product (including energy technology-, defense-, currency-, agriculture-, consumer electronics-, and health care-related applications), the absence of which would have significant consequences for the economic or national security of the United States, (iii) specialized manufacturing equipment used primarily to carry out a process described in clause (i) or (ii), or (iv) specialized equipment for research and development relating to a purpose described in clause (i), (ii), or (iii). (C) Qualified substitute The term qualified substitute means any material that the Secretary, in consultation with the Secretary of Energy and the Secretary of the Interior, determines is a verifiable alternative to a critical material that can carry out an essential function of such critical material in a technology component. (D) Technology component The term technology component means— (i) any manufactured component used to manufacture any item which is essential to national security, to energy independence, or to the economic competitiveness of the United States, or (ii) an eligible component (as defined in section 45X). (E) Eligible taxpayer The term eligible taxpayer means, with respect to a taxable year, any taxpayer which is not— (i) at any point during the taxable year, an entity under the influence, control, or ownership of— (I) a foreign entity of concern (as defined in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021), or (II) a firm domiciled in a non-market economy (as defined in section 771(18) of the Tariff Act of 1930), or (ii) subject to a covered trade action (as defined in section 108 of the Unearth America’s Future Act) at any point during the taxable year. (b) Qualified investment (1) In general For purposes of subsection (a), the qualified investment with respect to any critical material facility for any taxable year is the basis of any qualified property placed in service by the taxpayer during such taxable year which is part of such critical material facility. (2) Qualified property (A) In general For purposes of this subsection, the term qualified property means property— (i) which is tangible property, (ii) with respect to which depreciation (or amortization in lieu of depreciation) is allowable, (iii) which is— (I) constructed, reconstructed, or erected by the taxpayer, or (II) acquired by the taxpayer if the original use of such property commences with the taxpayer, and (iv) which is integral to the operation of a critical material facility. (B) Building and structural components (i) In general The term qualified property includes any building or its structural components which otherwise satisfy the requirements of subparagraph (A). (ii) Exception Clause (i) shall not apply with respect to a building or portion of a building used for offices, administrative services, or other functions unrelated to manufacturing. (3) Coordination with rehabilitation credit The qualified investment with respect to any critical material facility shall not include that portion of the basis of any property which is attributable to qualified rehabilitation expenditures (as defined in section 47(c)(2)). (4) Certain progress expenditure rules made applicable Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of subsection (a). (c) Elective payment (1) In general Except as otherwise provided in paragraph (2)(A), in the case of a taxpayer making an election (at such time and in such manner as the Secretary may provide) under this subsection with respect to the credit determined under subsection (a), such taxpayer shall be treated as making a payment against the tax imposed by subtitle A (for the taxable year with respect to which such credit was determined) equal to the amount of such credit. (2) Special rules Rules similar to the rules of section 48D(d)(2) shall apply with respect to an election under paragraph (1). (d) Denial of double benefit No credit shall be allowed under section 45X or under section 45BB for any taxable year with respect to any critical material facility with respect to a credit is allowed under this section. (e) Termination of credit The credit allowed under this section shall not apply to property the construction of which begins after December 31, 2029. . (b) Conforming amendments (1) Section 46 of such Code is amended by striking and at the end of paragraph (6), by striking the period at the end of paragraph (7) and inserting , and , and by adding at the end the following new paragraph: (8) The critical material investment credit. . (2) Section 49(a)(1)(C) of such Code is amended by striking and at the end of clause (vii), by striking the period at the end of clause (viii) and inserting , and , and by adding at the end the following new clause: (ix) the basis of any property which is part of a critical material facility under section 48F. . (3) Section 50(a)(2)(E) is amended by striking or 48E(e) and inserting 48E(e), or 48F(b)(4) . (4) The table of sections for subpart E of part IV of subchapter A of chapter 1, as amended by section 107(d) of the CHIPS Act of 2022 ( Public Law 117–167 ), is amended by inserting after the item relating to section 48E the following new item: Sec. 48F. Critical material investment credit. . (c) Effective date The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act. 202. Critical material production tax credit (a) In general Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 45AA the following new section: 45BB. Critical material production credit (a) In general (1) Allowance of credit For purposes of section 38, the critical material production credit for any taxable year is an amount equal to the sum of the credit amounts determined under subsection (b) with respect to each eligible material which is— (A) produced by the taxpayer in the United States, and (B) during the taxable year, sold by such taxpayer to an unrelated person. (2) Production and sale must be in trade or business Any eligible material produced and sold by the taxpayer shall be taken into account only if the production and sale described in paragraph (1) is in a trade or business of the taxpayer. (3) Unrelated person (A) In general For purposes of this subsection, a taxpayer shall be treated as selling eligible material to an unrelated person if such eligible material is sold to such person by a person related to the taxpayer. (B) Election (i) In general At the election of the taxpayer (in such form and manner as the Secretary may prescribe), a sale of eligible material by such taxpayer to a related person shall be deemed to have been made to an unrelated person. (ii) Requirement As a condition of, and prior to, any election described in clause (i), the Secretary may require such information or registration as the Secretary deems necessary for purposes of preventing duplication, fraud, or any improper or excessive amount determined under paragraph (1). (b) Credit amount (1) In general Subject to paragraph (2), the amount determined under this subsection with respect to any eligible material shall be equal to— (A) in the case of a taxpayer producing eligible material at the initial production stage, the eligible rate shall be equal to 15 percent of the taxpayer’s cost of production, or (B) in the case of an eligible material with respect to which each input eligible material is sourced— (i) domestically, 10 percent of the taxpayer’s cost of production, or (ii) domestically or from a country listed by the Secretary under subsection (d)(1), 7.5 percent of the taxpayer’s cost of production. (2) Increase in credit amount for meeting certain standards In the case of a taxpayer that meets 1 of the following criteria with respect to the eligible material with respect to which the amount is determined under paragraph (1), the amount determined under paragraph (1) (determined without regard to this paragraph) shall be increased by 10 percentage points: (A) Each employee, contractor, or subcontractor employed in relation to the production of the eligible material by the taxpayer during the taxable year was paid wages at rates not less than the prevailing rates for the applicable industry in the locality in which such production occurred as most recently determined by the Secretary of Labor, in accordance with subchapter IV of chapter 31 of title 40, United States Code, and the taxpayer fulfilled the apprenticeship requirements established by the Secretary under subsection (d)(2). (B) Produces— (i) a critical material that the Secretary, in consultation with the heads of other relevant Federal agencies and departments, determines has a supply which is significantly vulnerable to disruption (including restrictions associated with foreign political risk, abrupt demand growth, military conflict, violent unrest, anti-competitive or protectionist behaviors, and other risks throughout the supply chain), (ii) a qualified substitute, or (iii) a recycled critical material. (3) Phase out (A) In general In the case of any eligible material sold after December 31, 2030, the amount determined under this subsection with respect to such material shall be equal to the product of— (i) the amount determined under paragraph (1) with respect to such material, as determined without regard to this paragraph, multiplied by (ii) the phase out percentage under subparagraph (B). (B) Phase out percentage The phase out percentage under this subparagraph is equal to— (i) in the case of an eligible material sold during calendar year 2031, 75 percent, (ii) in the case of an eligible material sold during calendar year 2032, 50 percent, (iii) in the case of an eligible material sold during calendar year 2033, 25 percent, (iv) in the case of an eligible material sold after December 31, 2034, 0 percent. (c) Special rules For purposes of this section— (1) Related persons Persons shall be treated as related to each other if such persons would be treated as a single employer under the regulations prescribed under section 52(b). (2) Pass-thru in the case of estates and trusts Under regulations prescribed by the Secretary, rules similar to the rules of subsection (d) of section 52 shall apply. (3) Sale of integrated components For purposes of this section, a person shall be treated as having sold an eligible material to an unrelated person if such material is integrated, incorporated, or assembled into a technology component which is sold to an unrelated person. (d) Regulations (1) Identification of safe acquisition sources Not later than 1 year after the date of the enactment of this section, the Secretary, in consultation with the Secretary of State, shall publish and maintain a list of countries that meet the following criteria: (A) The country has environmental protections with respect to the production of eligible materials which meet or exceed such protections in the United States. (B) No product of the country is prohibited for importation into the United States pursuant to section 307 of the Tariff Act of 1930. (C) The country has labor laws which ensure wage rates are determined by free bargaining between labor and management. (D) The country is not— (i) a foreign entity of concern (as defined in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021), or (ii) a nonmarket economy country (as defined in section 771(18) of the Tariff Act of 1930). (2) Apprenticeship requirement The Secretary, in consultation with the Secretary of Labor, shall establish such apprenticeship requirements as are appropriate for each affected industry for purposes of subsection (b)(2)(A). (e) Limitation For the purposes of calculating the eligible credit amount for a taxpayer, the taxpayer shall be unable to claim an eligible credit under this section if the taxpayer has already claimed an eligible credit for production of an applicable critical mineral under section 45X for the current year in which this section is being claimed. (f) Definitions For the purpose of this section— (1) Terms used in section 48F The terms eligible material , qualified substitute , critical material , and technology component have the meanings given such terms in section 48F. (2) Initial production stage The term initial production stage means a stage of production in which the taxpayer produces an eligible material through— (A) extraction, (B) recycling, or (C) in the case of a qualified substitute, any means. (3) Taxpayer’s cost of production The term taxpayer’s cost of production means amounts paid or incurred by the taxpayer to produce an eligible material, excluding amounts paid or incurred— (A) for labor, (B) for transportation of any property, and (C) administrative expenses. . (b) Credit allowed as part of general business credit Section 38(b) of such Code is amended by striking plus at the end of paragraph (40), by striking the period at the end of paragraph (41) and inserting , plus , and by adding at the end the following new paragraph: (42) section 45BB (critical material production credit). . (c) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45BB. Critical material production credit. . (d) Effective date The amendments made by this section shall apply to materials sold after the date of the enactment of this Act. 203. Consultation (a) Industrial advisory board (1) Establishment The Secretary of the Treasury shall establish an advisory committee to be composed of not fewer than 15 members, including representatives of industry, academia, trade organizations, environmental protection organizations, labor organizations, and international partners, as appropriate, who are qualified to provide advice on matters relevant to increasing domestic capacity of critical materials manufacturing. (2) Representation of certain groups The Secretary, in carrying out paragraph (1), shall ensure that at least 2 members of the advisory committee established under such paragraph are representatives of— (A) an environmental protection organization, and (B) a labor organization. (3) FACA exemption Section 14 of the Federal Advisory Committee Act (5 U.S.C. App.) shall not apply to the advisory committee established under this subsection. (b) Interagency coordination In carrying out the development of guidance necessary to the implementation of subsection (a), the Secretary of the Treasury shall consult the following: (1) The advisory committee established under subsection (a)(1). (2) The Secretary of Agriculture. (3) The Secretary of Commerce. (4) The Secretary of Defense. (5) The Secretary of Energy. (6) The Secretary of Health and Human Services. (7) The Secretary of Homeland Security. (8) The Secretary of the Interior. (9) The United States Trade Representative. (10) The Director of the White House Office of Science and Technology Policy. (11) Such other head of a Federal agency as the Secretary determines appropriate. III Critical Material Research and Development 301. Clarifying mining research at the National Science Foundation (a) In general Section 10359 of title III of division B of the Research and Development, Competition, and Innovation Act ( 42 U.S.C. 19067 ; Public Law 117–167 ) is amended— (1) in the section heading, by striking minerals and inserting materials ; (2) in subsection (a)— (A) in the subsection heading, by striking minerals and inserting materials ; (B) by amending paragraph (1) to read as follows: (1) In general In order to support supply chain resiliency, the Director shall make awards, on a competitive basis, to institutions of higher education, nonprofit organizations, or private entities (or consortia of such institutions, organizations, or entities) to support research and development that will accelerate innovation to advance critical materials mining strategies and technologies for the purpose of making better use of domestic resources and eliminating national reliance on critical materials that are subject to supply disruptions. ; (C) in paragraph (2)— (i) by amending subparagraph (A) to read as follows: (A) advancing mining research and development activities to develop new mapping and mining technologies and techniques, including advanced critical material extraction and production, separation, alloying, or processing techniques and technologies that can decrease energy intensity to improve existing or develop new supply chains of critical materials, and yield more efficient, economical, and environmentally benign mining practices; ; (ii) by striking subparagraph (B) and redesignating subparagraphs (C), (D), (E), (F), (G), and (H), as subparagraphs (B), (C), (D), (E), (F), and (G), respectively; (iii) in subparagraph (C), as so redesignated, by striking minerals and inserting materials ; (iv) in subparagraph (D), as so redesignated, by striking minerals and inserting materials ; (v) in subparagraph (E), as so redesignated, by striking minerals and inserting materials ; and (vi) in subparagraph (F), as so redesignated, by striking minerals and inserting materials ; (D) by redesignating paragraph (3) as paragraph (4); and (E) by inserting after paragraph (2) the following new paragraph: (3) Collaboration In carrying out this subsection, the Director shall collaborate with the Secretary of the Interior, the Secretary of Energy, the Director of the National Institute of Standards and Technology, the Director of the Office of Science and Technology Policy, and the heads of other relevant Federal departments and agencies, including facilities such as the National Laboratories, Manufacturing USA institutes, and other federally funded research and development centers, academia, industry, nonprofit organizations, labor organizations, and international partners, as appropriate, to carry out the purposes described in paragraph (1). ; and (3) by amending subsection (c) to read as follows: (c) Critical material defined In this section, the term critical material has the meaning given such term in section 7002(a)(2) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(2) ). . (b) Clerical amendment The table of contents in sections 1 and 10000 of Public Law 117–167 are amended by striking the items relating to section 10359 and inserting the following new items: Sec. 10359. Critical materials mining research and development. . 302. Clarifying mining research at the Department of Energy Section 40210 of the Infrastructure Investment and Jobs Act ( 42 U.S.C. 18743 ) is amended— (1) in subsection (a)— (A) by redesignating paragraphs (3), (4), (5), (6), (7), (8), (9), and (10) as paragraphs (4), (5), (6), (7), (8), (9), (10), and (11), respectively; (B) by inserting after paragraph (2) the following new paragraph: (3) Critical material The term critical material has the meaning given such term in section 7002(a)(2) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(2) ). ; and (C) by adding at the end the following new paragraph: (12) Skilled technical workforce The term skilled technical workforce has the meaning given such term in section 4(b) of the Innovations in Mentoring, Training, and Apprenticeships Act ( 42 U.S.C. 1862p note; Public Law 115–402 ). ; and (2) by amending subsection (b) to read as follows: (b) Critical material mining research and development (1) In general In order to support supply chain resiliency, the Secretary shall issue awards, on a competitive basis, to eligible entities described in paragraph (2) to support research and development activities that will accelerate innovation to advance critical materials mining and associated extraction technologies and strategies for the purposes of— (A) making better use of domestic resources; (B) eliminating national reliance on critical materials that are subject to supply disruptions; and (C) promoting sustainability with critical materials mining. (2) Eligible entities Entities eligible to receive an award under paragraph (1) are the following: (A) Federally funded facilities, including National Laboratories, Manufacturing USA institutes, and other federally funded research and development centers. (B) Relevant State, local, or Tribal governmental entities with specialized resources to carry out paragraph (1). (C) Institutions of higher education. (D) Nonprofit organizations. (E) Consortia of entities described in subparagraphs (A) through (D), including consortia that collaborate with private industry. (3) Use of funds Activities funded by an award under this section may include the following: (A) Advancing mining research and development activities to develop new mapping and mining technologies and techniques, including advanced critical material extraction and separation— (i) to improve existing, or to develop new, supply chains of critical materials; and (ii) to yield more efficient, economical, and environmentally benign mining practices, including through innovative technology and relevant mining equipment applications. (B) Conducting long-term earth observation of reclaimed mine sites, including the study of the evolution of microbial diversity at those sites. (C) Examining the application of artificial intelligence for geological exploration of critical materials, including what size and diversity of data sets would be required. (D) Examining the application of machine learning for detection and sorting of critical materials, including what size and diversity of data sets would be required. (E) Conducting detailed isotope studies of critical materials and the development of more refined geologic models. (F) Providing education, training, and relevant research opportunities to— (i) post-secondary students to expand the critical materials workforce, partially students in engineering and material science disciplines; and (ii) the skilled technical workforce. (4) Collaboration In carrying out this subsection, the Secretary shall collaborate with the Secretary of the Interior, the Director of the National Science Foundation, the Director of the National Institute of Standards and Technology, the Director of the Office of Science and Technology Policy, and the heads of other relevant Federal departments and agencies, including facilities such as the National Laboratories, Manufacturing USA institutes, and other federally funded research and development centers, academia, industry, nonprofit organizations, labor organizations, and international partners, as appropriate, to carry out the purposes described in paragraph (1). (5) Existing programs The Secretary shall ensure awards issued under this subsection are complementary and not duplicative of existing programs across the Department of Energy and the Federal Government. . 303. Critical materials research and development (a) In general In support of the security and competitiveness of the United States, the Director of the National Science Foundation (in this section referred to as the Director ) shall make awards, on a competitive basis, to institutions of higher education, nonprofit organizations, or private entities (or consortia of such institutions, organizations, or entities) for the purposes described in subsection (b). (b) Purposes described The purposes described in this subsection include any of the following: (1) Research and development activities to advance innovative technologies, materials, and techniques relevant to the sustainability, security, and traceability of critical material supply chains, including the following: (A) Technologies for the manufacturing of critical materials, including innovative equipment applications and industrial decarbonization processes, across processes such as processing, refining, conversion, and recycling. (B) Innovative and emerging materials for improved or new uses within the supply chain, including the following: (i) Innovative alloys, magnets, anodes, and other multichemical compound materials. (ii) Qualified substitutes designed to replace part or all of a traditionally extracted critical material within a downstream application. (iii) Byproducts of existing supply chains that may be recovered at sufficient quantities for use. (C) Innovative and emerging downstream applications that— (i) reduce reliance on critical material supply chains subject to disruptions; or (ii) reduce or replace part or all of a traditionally extracted critical material. (D) Any technology, material, or technique to promote circularity and sustainability within the critical material supply chain through increasing the reusability of a critical material. (2) Education and workforce development opportunities to support a robust critical materials workforce, which may include any of the following: (A) Providing training and research opportunities to undergraduate and graduate students to ensure a robust critical material technical workforce. (B) Providing training and other educational pathways to ensure a robust critical material manufacturing workforce through short-term credentials and career and technical education activities, including the following: (i) Pathways designed to upskill and reskill, as the case may be, the existing workforce. (ii) Pathways and emerging trends designed to address workforce shortages, including as a result of skill gaps, of the future workforce. (c) Testbeds In carrying out this section, subject to the availability of appropriations for such purposes, the Director may establish test beds, pursuant to section 10390 of the Research and Development, Competition, and Innovation Act ( 42 U.S.C. 19110 ; enacted as part of division B of Public Law 117–167 ), to advance innovative technologies, materials, and techniques for the purpose of creating sustainable, secure, and transparent critical material supply chains. In doing so, the Director shall prioritize the translation and commercialization of the following: (1) Qualified substitutes. (2) Byproducts. (3) Downstream applications using innovative combinations of critical materials, including byproducts, qualified substitutes, or recycled content. (4) Decarbonization technologies, including any such technology that improves sustainability of the manufacturing process for critical materials. (5) Recycling technologies. (d) Critical materials education (1) In general The Director shall, on a competitive, merit-reviewed basis, make awards to institutions of higher education and nonprofit organizations (or consortia of such institutions and organizations, which may also include private entities) to establish partnerships to enhance and broaden participation in fields relevant for education and training for the critical material supply chain. (2) Activities Awards made under this subsection shall be used for the following: (A) To— (i) conduct training and education activities, including curricula design, development, dissemination, and assessment; and (ii) share information and best practices across the network of awardees. (B) To develop regional partnerships among associate degree-granting colleges, bachelor degree-granting institutions, workforce development programs, labor organizations, and industry to create a diverse national technical workforce trained in fields relevant to the critical material supply chain and ensure education and training is meeting the evolving needs of industry. (C) To facilitate partnerships with employers, employer consortia, or other private sector organizations that offer apprenticeships, internships, or applied learning experiences in fields relevant to the critical material supply chain. (D) To develop shared infrastructure available to institutions of higher education, two-year colleges, and private organizations to enable experiential learning activities and provide physical or digital access to training facilities and industry-standard tools and processes. (E) To create and disseminate public outreach to support awareness of education and career opportunities relevant to the critical material supply chain, including through outreach to K–12 schools and STEM-related organizations. (F) To collaborate and coordinate with industry and existing public and private organizations conducting education and workforce development activities in fields relevant to the critical material supply chain, as practicable. (3) National coordination To coordinate activities, best practice sharing, and access to facilities across the partnerships established in accordance with paragraph (1), the Director shall ensure that activities carried out by the partnerships under this subsection are coordinated to the greatest extent possible. (4) Priority To the extent practicable, the Director shall prioritize awardees under paragraph (1) that include entities focused on supporting the creation of a technical workforce relevant to the critical material supply chain, including entities such as associate degree-granting colleges, career and technical entities, workforce development programs, labor organizations, and industry. (e) Collaboration In carrying out this section, the Director shall collaborate with the Secretary of Energy, the Director of the National Institute of Standards and Technology, the Director of the Office of Science and Technology Policy, and the heads of other relevant Federal departments and agencies, including facilities such as the National Laboratories, Manufacturing USA institutes, and other federally funded research and development centers, academia, industry, nonprofit organizations, labor organizations, and international partners, as appropriate, to carry out the purposes described in subsection (b). (f) Existing programs The Director shall ensure awards made under this section are complementary and not duplicative of existing programs across the National Science Foundation and the Federal Government. 304. Critical materials standards and metrology (a) In general Subject to the availability of appropriations for such purposes, the Director of the National Institute of Standards and Technology (referred to in this section as the Director ) shall carry out a critical materials program to enable advances and breakthroughs in measurement science, technical standards, material characterization, instrumentation, testing, and manufacturing, including recycling, capabilities that will accelerate research and development and produce relevant technical standards for sustainable, secure, and traceable critical material supply chains. (b) Activities In carrying out subsection (a), the Director shall carry out measurement science, technical standards, material characterization, instrumentation, testing, or other activities, as appropriate, to support the following: (1) Activities related to advancing innovative materials, including byproducts and qualified substitutes, recycled materials, and innovative combinations for downstream applications. (2) Activities related to advancing recycling processes of critical materials, including techniques to improve reusability of recycled content. (3) Activities related to facilitating the development of technical standards within the critical material supply chain to promote interoperability, collaboration, and traceability. (4) Activities related to paragraphs (1) through (3) with international partners, as appropriate. (5) Other activities identified by the Director, as appropriate, to advance the goal described in such subsection. (c) Critical materials recycling consortium (1) In general Subject to the availability of appropriations for such purpose, the Director shall convene a consortium to identify future standards and metrology needs to promote advanced recycling processes of critical materials. (2) Membership (A) In general The members of the Consortium may include representatives from the National Laboratories, Manufacturing USA institutes, and other federally funded research and development centers, academia, industry, nonprofit organizations, labor organizations, and international partners, as appropriate. (B) Exclusion The Consortium may not offer membership to any individual who is a representative of a foreign entity of concern or a foreign entity of a foreign country of concern. (3) Responsibilities The Consortium shall— (A) access the current gaps within relevant technical standards and metrology regarding the needs described in paragraph (1); (B) identify any gaps in research necessary to meet such needs; and (C) provide recommendations regarding how Federal agencies can address such gaps in carrying out activities related to critical materials recycling. (4) Report to Congress Not later than two years after the establishment of the Consortium, the Director shall submit to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Science, Space, and Technology of the House of Representatives a report summarizing the findings of the Consortium. (5) Collaboration The Director shall ensure that the activities carried out by the Consortium are complementary and not duplicative of the collaborative activities carried out by the Critical Materials Consortium established under section 7002(g)(8) of the Energy Act of 2020 ( 30 U.S.C. 1606(g)(8) ). (6) Termination The Consortium shall terminate five years after its establishment. (d) Collaboration In carrying out this section, the Director shall collaborate with the Secretary of Energy. (e) Existing programs The Director shall ensure activities carried out under this section are complementary and not duplicative of existing programs across the National Institute of Standards and Technology, the Department of Energy, and other Federal departments and agencies. 305. Critical materials demonstration Subsection (d) of section 40210 of the Infrastructure Investment and Jobs Act ( 42 U.S.C. 18743 ) is amended to read as follows: (d) Grant program for pilot projects To expand domestic capacity of critical materials (1) Establishment The Secretary shall establish a grant program to finance pilot projects to promote domestic capacity, reduce reliance on supply chains subject to disruptions, and support innovation in the critical material supply chain. (2) Use of funds Pilot projects under paragraph (1) may include any of the following to increase the domestic capabilities of the United States to manufacture critical materials across the entire cycle of the critical material supply chain: (A) Innovative technologies, including applications for manufacturing equipment and industrial decarbonization. (B) Innovative and emerging materials for improved or new uses with the supply chain, including qualified substitutes, byproducts, or recycled or reclaimed critical materials. (C) Innovative and emerging downstream applications to reduce reliance on critical materials subject to supply chain disruptions. (D) Any other technology, material, or technique to promote circularity and sustainability, including through environmentally benign processes, within the critical material supply chain. (3) Limitations (A) Limitation on grant awards A grant awarded under paragraph (1) may not exceed $25,000,000. (B) Economic viability In awarding grants under paragraph (1), the Secretary shall give priority to projects that the Secretary determines are likely to be economically viable over the long term. (C) Priority In awarding grants under paragraph (1), the Secretary shall seek to award not less than 40 percent of the total amount of grants awarded during the fiscal year for projects relating to the following: (i) Qualified substitute. (ii) Secondary recovery. (iii) Recycling. (D) Prohibition on awards to foreign countries of concern In awarding grants under paragraph (1), the Secretary shall ensure that pilot projects do not export for any manufacturing process of a critical material to a foreign country of concern. (4) Collaboration In carrying out this subsection, the Secretary shall collaborate with the Secretary of Commerce, the Secretary of Defense, the Secretary of the Interior, the Director of the National Science Foundation, the Director of the National Institute of Standards and Technology, the Director of the Office of Science and Technology Policy, and the heads of other relevant Federal departments and agencies, including facilities such as the National Laboratories, Manufacturing USA institutes, and other federally funded research and development centers, academia, industry, nonprofit organizations, labor organizations, and international partners, as appropriate, to carry out the purposes described in paragraph (1). (5) Existing programs The Secretary shall ensure awards made under paragraph (1) are complementary and not duplicative of existing programs across the Department of Energy and the Federal Government. (6) Authorization of appropriations There is authorized to be appropriated to the Secretary to carry out this subsection $150,000,000 for each of fiscal years 2026 through 2030. (7) Definitions In this subsection: (A) Conversion The term conversion means the process to alter a refined or purified critical material to a secondary compound that is subject to supply chain disruptions relevant to the national, energy, and economic security of the United States, including the manufacturing of magnets, alloys, or multicompound chemistries, including such chemistries at solid, liquid, or gaseous states. (B) Critical material supply chain The term critical material supply chain means the lifecycle of a critical material, including the extraction, processing or refining, conversion, and recycling of a critical material. (C) Foreign country of concern The term foreign country of concern has the meaning given such term in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( 15 U.S.C. 4651 ). (D) Qualified substitute The term qualified substitute means any verifiable alternative to a critical material, including converted critical material compounds, able to carry out an essential function (as such term is used in section 7002(a)(2)(ii) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(2)(ii) )) of a critical material. (E) Refined or purified critical material The term refined or purified critical material means a critical material that has undergone any relevant manufacturing process to remove impurities and to meet industry standards of purity or concentration for downstream use cases post-extraction or recycling. . 306. Definitions In this title: (1) Byproduct The term byproduct has the meaning given such term in section 7002(a)(1) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(1) ). (2) Conversion The term conversion means the process to alter a refined or purified critical material to a secondary compound that is subject to supply chain disruptions relevant to the national, energy, and economic security of the United States, including the manufacturing of magnets, alloys, or multicompound chemistries, including such chemistries at solid, liquid, or gaseous states. (3) Critical material The term critical material has the meaning given such term in section 7002(a)(2) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(2) ). (4) Critical material supply chain The term critical material supply chain means the lifecycle of a critical material, including the extraction, processing or refining, conversion, and recycling of a critical material. (5) Foreign country of concern The term foreign country of concern has the meaning given such term in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( 15 U.S.C. 4651 ). (6) Foreign entity of concern The term foreign entity of concern has the meaning given such term in section 9901 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( 15 U.S.C. 4651 ). (7) Qualified substitute The term qualified substitute means any verifiable alternative to a critical material, including converted critical material compounds, able to carry out an essential function (as such term is used in section 7002(a)(2)(ii) of the Energy Act of 2020 ( 30 U.S.C. 1606(a)(2)(ii) )) of a critical material. (8) Recycling The term recycling means the process of collecting and processing spent materials and devices and turning the materials and devices into raw materials or components that can be reused either partially or completely. (9) Refined or purified critical material The term refined or purified critical material means a critical material that has undergone any relevant manufacturing process to remove impurities and to meet industry standards of purity or concentration for downstream use cases post-extraction or recycling. (10) Technical standard The term technical standard has the meaning given such term in section 12(d)(5) of the National Technology Transfer and Advancement Act of 1995 ( 15 U.S.C. 272 note).