A bill to amend the Internal Revenue Code of 1954 to clarify the definition of geothermal energy, and for other purposes.

Summary

Amends the Internal Revenue Code to define "geothermal energy" as the natural heat of the Earth at any temperature. (Present regulations require that such heat exceed a specified temperature.) Qualifies for the residential energy tax credit and the investment tax credit for energy property energy systems which use both geothermal energy and another energy source not eligible for such credits if geothermal energy provides more than 80 percent of the energy for such system. Qualifies for the investment tax credit for energy property energy systems which use both geothermal energy and another energy source eligible for such credit (such as biomass, solar, wind, ocean thermal, or hydroelectric energy) if the combination of such energy sources provides more than 80 percent of the energy for such system.

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1 official file

• Introduced in House

  summary · EN · 27 February 1985

  Open at official source

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