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 must exceed a specific 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) if the combination of such energy sources provides more than 80 percent of the energy for such system.

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Timeline

1. 9 May 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 9 May 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 11 May 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department, Energy Department.

   Source: Committee

4. 18 July 1983

   Committee

   Subcommittee on Energy and Agricultural Taxation. Hearings held. Hearings printed: S.Hrg. 98-457.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 9 May 1983

  Open at official source

Sponsors

• Rep. Symms, Steven D. [R-ID-1] · R · Sponsor
• Sen. McClure, James A. [R-ID] · R · Sponsor
• · ssfi00 · Standing

Related records

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