Elimination of Double Subsidies for the Hardrock Mining Industry Act of 1999

Summary

Elimination of Double Subsidies for the Hardrock Mining Industry Act of 1999 - Amends the Internal Revenue Code to disallow the percentage depletion allowance for hardrock mines located on land currently subject to the general mining laws, or on land patented under such laws. Establishes the Abandoned Mine Reclamation Trust fund in the Treasury. Appropriates to such Fund amounts equal to 25 percent of the additional revenues received by reason of the above change in the percentage depletion allowance. Prescribes guidelines under which such fund shall be available to the Secretary of the Interior for reclamation and restoration of lands and water resources adversely affected by mineral and mineral material mining (excluding coal and fluid materials).

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 11 March 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 11 March 1999

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• Introduced in Senate

  summary · EN · 11 March 1999

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