Us Congress 2023-2024 Regular Session

Us Congress House Bill HB7422

Introduced
2/20/24  
Refer
2/20/24  
Refer
3/4/24  
Report Pass
4/16/24  

Caption

Geothermal Cost-Recovery Authority Act of 2024

Impact

If enacted, HB 7422 would have significant implications on how geothermal resources are managed, particularly relating to the Bureau of Land Management's geothermal program. The Secretary would assess each application and may adjust reimbursement amounts based on the economic capabilities of the applicant. This could potentially facilitate the growth of the geothermal sector by addressing funding challenges while ensuring that environmental and operational regulations are met for sustainable utilization of geothermal energy.

Summary

House Bill 7422, known as the Geothermal Cost-Recovery Authority Act of 2024, aims to amend the Geothermal Steam Act of 1970 by providing the Department of the Interior with the authority to recuperate costs associated with geothermal leasing, permitting, and inspections. The bill outlines the conditions under which applicants for geothermal leases may be required to reimburse the federal government for administrative and monitoring activities, with the authority granted lasting until September 30, 2031. This legislative move intends to make geothermal development more financially feasible for the federal government while ensuring the effective management of geothermal resources.

Sentiment

The sentiment surrounding HB 7422 appears to be mixed, with proponents emphasizing the need for systematic funding to support geothermal resource management and harnessing clean energy. Supporters argue that enabling cost recovery is a step toward enhancing energy independence and security through renewable sources. However, there may be concerns from environmental advocates regarding how such cost structures might influence oversight, monitoring, and the priorities in resource management, leading to a polarized viewpoint among different stakeholders.

Contention

Notable points of contention revolve around the potential economic burdens that may be placed on smaller geothermal developers, who might find it challenging to meet reimbursement requirements. There are concerns about how these financial obligations could deter investment or limit participation in the geothermal market. Stakeholders may also debate the balance between ensuring proper oversight of geothermal activities and allowing for streamlined processes that facilitate quicker access to geothermal resources. As discussions around the bill continue, there will likely be further examination of its long-term implications on both economic development and environmental stewardship.

Companion Bills

No companion bills found.

Previously Filed As

US HB7370

GEO Act Geothermal Energy Opportunity Act

US HB301

GEO Act Geothermal Energy Opportunity Act

US HB398

Geothermal Cost-Recovery Authority Act of 2025This bill expands the Geothermal Steam Act of 1970 to give the Department of the Interior the authority to collect certain fees from applicants for, or holders of, geothermal leases through September 30, 2032. Specifically, Interior may direct those applicants or leaseholders to reimburse the United States for costs from (1) processing applications for geothermal leases on federal land, such as applications for geothermal drilling permits; and (2) inspecting and monitoring geothermal exploration and development activities, including reclamation activities.Interior may reduce the amount of the fee if it determines that (1) the full reimbursement would impose an economic hardship on the applicant, or (2) a less than full reimbursement is necessary to promote the greatest use of geothermal resources.Interior may use those fees only to the extent that they are provided in advance in appropriations acts for (1) processing applications for geothermal leases, and (2) inspecting and monitoring related exploration and development activities.Within five years of the bill's enactment, Interior must submit to Congress a report that includes an assessment of how the fees affect Interior's geothermal leasing program and any recommendations for updates to the fees and the program. 

US HB6482

Enhancing Geothermal Production on Federal Lands Act

US SB3954

Geothermal Energy Optimization Act

US HB9750

Natural Disaster Recovery Program Act of 2024

US HB7659

Coast Guard Authorization Act of 2024

US HB6474

To amend the Energy Policy Act of 2005 to expedite geothermal exploration and development in previously studied or developed areas.

US HB7240

Fort Belknap Indian Community Water Rights Settlement Act of 2024

US SB4753

Energy Permitting Reform Act of 2024

Similar Bills

NJ S253

Directs BPU to conduct study to determine feasibility, marketability, and costs of implementing large-scale geothermal heat pump systems in State.

CA AB526

Energy: in-state geothermal energy generation.

NJ A5442

Directs BPU to conduct study to determine feasibility, marketability, and costs of implementing large-scale geothermal heat pump systems in State.

NJ S3793

Directs BPU to conduct study to determine feasibility, marketability, and costs of implementing large-scale geothermal heat pump systems in State.

NJ A1491

Directs BPU to conduct study to determine feasibility, marketability, and costs of implementing large-scale geothermal heat pump systems in State.

CA AB527

Oil and gas: California Environmental Quality Act: geothermal exploratory projects: geothermal field development projects: enhanced geothermal system wells.

HI SB3229

Relating To Geothermal Royalties.

NM HB91

Geothermal Resources Project Funds