Exception to passive loss limitations for working interests in geothermal properties

(a) In general Section 469(c)(3) of the Internal Revenue Code of 1986 is amended— (1) in the paragraph heading, by striking oil and gas and inserting oil, gas, and geothermal, and (2) by striking oil or gas each place it appears and inserting oil, gas, or geothermal in each such place. (b) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.