MARKETS

Legislator launches industry tax aid effort

INDIANA will support its coal mines with tax breaks for safety technology and training rescue teams through a new bill introduced by US Representative Brad Ellsworth of Indiana last week.

Donna Schmidt
Legislator launches industry tax aid effort

Specifically, the tax incentive legislation will give operators a 50% credit towards costs incurred by the purchase of qualified advanced mine safety devices such as emergency communication, tracking, emergency systems for oxygen generation and pre-positioned oxygen supplies and comprehensive atmospheric monitoring systems.

The bill, Improved Mine Safety Act of 2009, also amends an existing tax credit for mine rescue teams, making it larger, permanent and allowing the credit to be an offset against the alternative minimum tax.

The National Mining Association was the first to publicly praise the bill as well as Ellsworth’s efforts for the mining community.

“On behalf of the nation’s mining community, [we thank him] for introducing legislation to provide important investment incentives that will accelerate the introduction of new safety technologies, safety training and additional mine rescue capabilities into the nation’s mines,” said association senior vice-president of regulatory affairs Bruce Watzman in a statement Friday.

“US coal mining operators are working rapidly to develop and deploy new safety procedures and equipment, and Congressman Ellsworth’s legislation will help advance the instalment of the latest and most advanced technologies, while also improving the response capabilities of mine rescue teams.

“We applaud Congressman Ellsworth for his dedication and hard work towards improving the safety of coal miners both in Indiana and across the country.”

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions

editions

Mining Magazine Intelligence Exploration Report 2023 (feat. Opaxe data)

A comprehensive review of current exploration rates, trending exploration technologies, a ranking of top drill intercepts and a catalogue of 2022 Initial Resource Estimates and recent discovery successes.