Geothermal royalties

(a) Definitions (1) In general Section 2 of the Geothermal Steam Act of 1970 (30 U.S.C. 1001) is amended— (A) by striking the section designation and heading and all that follows through the term— in the matter preceding subsection (a) and inserting the following: 2. Definitions In this Act:; (B) in each of subsections (a) through (d), by striking the semicolon at the end and inserting a period; (C) in subsection (c), by striking resources and inserting resource; (D) by striking subsection (e); (E) in subsection (f)— (i) in paragraph (1), by striking Section and inserting section; (ii) by redesignating paragraphs (1) through (4) as subparagraphs (A) through (D), respectively, and indenting appropriately; and (iii) by striking the subsection designation and all that follows through limited to, in the matter preceding subparagraph (A) (as so redesignated) and inserting the following: (f) significant thermal feature within a unit of the National Park System includes; (F) in subsection (g), by striking; and at the end and inserting a period; (G) by redesignating subsections (a), (b), (c), (d), (f), and (g) as paragraphs (7), (4), (5), (1), (8), and (2), respectively, indenting the paragraphs appropriately, and moving the paragraphs so as to appear in numerical order; (H) in each of paragraphs (1), (2), (4), (5), (7), and (8) (as so redesignated)— (i) by inserting The term after the paragraph designation; and (ii) by adding a paragraph heading, the text of which comprises the term defined in the paragraph; (I) by inserting after paragraph (2) (as so redesignated) the following: (3) Geothermal electric generating facility (A) In general The term geothermal electric generating facility means a facility, including all necessary equipment and structures (including turbines and cooling equipment), that produces electricity using geothermal resources. (B) Treatment For purposes of section 5(a)(1), a facility described in subparagraph (A) shall be considered to be a separate facility from any other such facility unless the facility shares a turbine with the other facility.; and (J) by inserting after paragraph (5) (as so redesignated) the following: (6) In-service date The term in-service date, with respect to a geothermal electric generating facility, means the date on which the geothermal electric generating facility commences operation.. (2) Conforming amendments (A) Section 6(i) of the Geothermal Steam Act of 1970 (30 U.S.C. 1005(i)) is amended by striking as defined in section 2(c) herein. (B) Section 28(a)(1) of the Geothermal Steam Act of 1970 (30 U.S.C. 1026(a)(1)) is amended, in the matter preceding subparagraph (A), by striking, as defined in section 2(f),. (b) Royalties on electricity produced using geothermal resources Section 5(a) of the Geothermal Steam Act of 1970 (30 U.S.C. 1004(a)) is amended by striking paragraph (1) and inserting the following: (1) a royalty on electricity produced using geothermal resources, other than direct use of geothermal resources, in an amount equal to, with respect to a geothermal electric generating facility producing electricity from geothermal resources— (A) not less than 1 percent, and not more than 2.5 percent, of the gross proceeds from the sale of electricity produced by the geothermal electric generating facility from those geothermal resources during each year of the 10-year period beginning on the in-service date of the geothermal electric generating facility; and (B) not less than 2 percent, and not more than 5 percent, of the gross proceeds from the sale of electricity produced by the geothermal electric generating facility from those geothermal resources during each year after the 10-year period described in subparagraph (A);.