S.Amdt. 1689

SA 1689. Mrs. SHAHEEN submitted an amendment intended to be proposed
by her to the bill H.R. 1, to provide for reconciliation pursuant to
titles II and V of the concurrent resolution on the budget for fiscal
year 2018; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. 1____. REPEAL OF PERCENTAGE DEPLETION ALLOWANCE FOR
CERTAIN HARDROCK MINES.

(a) In General.--Section 613(a) is amended by inserting
``(other than hardrock mines located on lands subject to the
general mining laws or on land patented under the general
mining laws)'' after ``In the case of the mines''.
(b) General Mining Laws Defined.--Section 613 of the
Internal Revenue Code of 1986 is amended by adding at the end
the following:
``(f) General Mining Laws.--For purposes of subsection (a),
the term `general mining laws' means those Acts which
generally comprise chapters 2, 12A, and 16, and sections 161
and 162 of title 30 of the United States Code.''.
(c) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2017.
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