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HR6873119th CongressWALLET

Geothermal Tax Parity Act

Sponsored By: Representative Maloy

Introduced

Summary

Tax parity for geothermal with oil and gas tax rules. It lets geothermal exploration and development costs be amortized like oil and gas and creates an exception to passive loss limits for working interests in geothermal properties.

Show full summary
  • Geothermal developers: Authorizes amortization of geological and geophysical expenditures tied to exploring or developing geothermal deposits for tax purposes.
  • Owners with working interests in geothermal properties: Provides an exception to passive loss limitations for those working interests, changing how losses are treated on tax returns.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Tax breaks for geothermal developers

If enacted, developers and investors would be able to amortize geological and geophysical costs for exploring or developing geothermal deposits. The bill would also let active working interests in geothermal properties use the oil-and-gas passive loss exception. Both changes would apply to tax years beginning after the date of enactment.

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Sponsors & CoSponsors

Sponsor

Maloy

UT • R

Cosponsors

  • Rep. Garamendi, John [D-CA-8]

    CA • D

    Sponsored 12/18/2025

  • Rep. Moore, Blake D. [R-UT-1]

    UT • R

    Sponsored 12/18/2025

  • Fulcher

    ID • R

    Sponsored 12/18/2025

  • Rep. Horsford, Steven [D-NV-4]

    NV • D

    Sponsored 12/18/2025

  • Rep. Auchincloss, Jake [D-MA-4]

    MA • D

    Sponsored 1/20/2026

Roll Call Votes

No roll call votes available for this bill.

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