Geothermal Tax Parity Act

# Geothermal Tax Parity Act (HR 6873) Summary **What the Bill Would Do:** The Geothermal Tax Parity Act aims to provide tax incentives for geothermal energy development that match those already available for other renewable energy sources like solar and wind. Specifically, the bill would extend or equalize tax credits and deductions for companies and individuals investing in geothermal energy projects, making the financial benefits comparable to what renewable energy competitors currently receive. **Who It Affects:** The bill would primarily benefit geothermal energy companies, developers, and investors by improving the financial returns on geothermal projects. It could also indirectly benefit consumers and communities in areas where geothermal energy is developed, potentially leading to more affordable renewable energy options and job creation in those regions. **Current Status:** As of now, HR 6873 remains in committee and has not advanced to a floor vote.

The bill was introduced by Rep. Celeste Maloy (R-UT), reflecting Utah's significant geothermal energy potential. No additional action has been taken since its introduction.