Geothermal Royalty Reform Act

This Act may be cited as the Geothermal Royalty Reform Act.
Section 2 of the Geothermal Steam Act of 1970 (30 U.S.C. 1001) is amended by adding at the end the following:
Geothermal electric generating facility means a facility, including all necessary equipment or structures (including turbines and cooling equipment), that produces electricity using geothermal resources. For purposes of section 5(a)(1), a facility described in the preceding sentence shall be considered a separate facility from any other such facility unless the facility shares a turbine with any other such facility.
In-service date means, with respect to a geothermal electric generating facility, the date on which the geothermal electric generating facility begins operating.
Section 5(a)(1) of the Geothermal Steam Act of 1970 (30 U.S.C. 1004(a)(1)) is amended—
in subparagraph (A)—
by inserting with respect to a geothermal electric generating facility producing electricity from such resources, before not less than;
by inserting by the geothermal electric generating facility after produced; and
by striking the first 10 years of production under the lease and inserting each year of the 10-year period following the in-service date of the geothermal electric generating facility; and
in subparagraph (B)—
by inserting with respect to a geothermal electric generating facility producing electricity from such resources, before not less than;
by inserting by the geothermal electric generating facility after produced; and
by striking such 10-year period and inserting the period of 10 years described in subparagraph (A).