Geothermal Royalty Reform Act

This legislation, titled the Geothermal Royalty Reform Act, proposes significant changes to the Geothermal Steam Act of 1970. Specifically, it amends Section 5(a)(1) to alter the method for calculating royalties on production from leased geothermal resources. The bill requires that these royalties be determined based on the output from each electric generating facility producing electricity from such resources. This means that royalty payments will be directly tied to the specific production levels of individual generating units, rather than a broader assessment. The aim is to provide a more granular and facility-specific approach to geothermal royalty collection.