,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #fhgc  ,,in ,,the ,,house ,,of  
,,representatives  ,december #ah1       
#bjbe,ms4 ,maloy 7for herself1 ,mr4     
,garamendi1 ,mr4 ,moore of ,utah1 ,mr4  
,fulcher1 and ,mr4 ,horsford7 introduced
 the following bill2 which was referred 
to the ,committee on ,ways and ,means   
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to allow        
amortization of geological and          
geophysical expenditures in connection  
with the exploration for1 or development
 of1 geothermal deposits1 and for other 
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,geothermal ,tax    
,parity ,act4  #b4 ,amortization of     
geological and geophysical expenditures 
in connection with exploration for or   
development of geothermal deposits  7a7 
,in general ,section #afg7;h77#a7 of the
 ,internal ,revenue ,code of #aihf is   
amended by striking oil or gas and      
inserting oil1 gas1 or geothermal       
deposits4  7b7 ,effective date ,the     

amendment made by this section shall    
apply to amounts paid or incurred in    
taxable years beginning after the date  
of the enactment of this ,act4  #c4     
,exception to passive loss limitations  
for working interests in geothermal     
properties  7a7 ,in general ,section    
#dfi7;c77#c7 of the ,internal ,revenue  
,code of #aihf is amended-- 7#a7 in the 
paragraph heading1 by striking oil and  
gas and inserting oil1 gas1 and         
geothermal1 and  7#b7 by striking oil or
 gas each place it appears and inserting
 oil1 gas1 or geothermal in each such   
place4  7b7 ,effective date ,the        
amendments made by this section shall   
apply to taxable years beginning after  
the date of the enactment of this ,act4