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Geothermal Tax Parity: Equal Tax Treatment for Exploration and Clean Energy Investment.

This bill amends the tax code to grant geothermal energy projects the same tax benefits currently enjoyed by oil and gas operations regarding exploration costs and investment losses. The goal is to encourage greater investment in clean, renewable geothermal energy by leveling the financial playing field for developers and investors. While primarily affecting the energy sector, this supports the nation's transition toward sustainable energy sources.
Key points
Geological and geophysical costs incurred during geothermal exploration can now be amortized (deducted over time) for tax purposes, matching the treatment of oil and gas.
Investors with active working interests in geothermal properties can deduct losses against other income, making these renewable energy investments more appealing.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_6873
Sponsor: Rep. Maloy, Celeste [R-UT-2]
Process start date: 2025-12-18
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Geothermal Tax Parity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_6873.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-12-18.

What are the main provisions?

Key points include:

  • Geological and geophysical costs incurred during geothermal exploration can now be amortized (deducted over time) for tax purposes, matching the treatment of oil and gas.
  • Investors with active working interests in geothermal properties can deduct losses against other income, making these renewable energy investments more appealing.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Maloy, Celeste [R-UT-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-22.

CATEGORIES

Taxes Environment Economy