I 111th CONGRESS 2d Session H. R. 5612 IN THE HOUSE OF REPRESENTATIVES June 28, 2010 Mr. Blumenauer (for himself, Mr. Thompson of California, Ms. Berkley, Ms. Giffords, Mr. McDermott, and Mr. Garamendi) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to temporarily increase the investment tax credit for geothermal energy property.

1.

Short title

This Act may be cited as the Geothermal Energy Investment Act of 2010.

2.

Temporary increase in investment tax credit for geothermal energy property

(a)

In general

Subclause (II) of section 48(a)(2)(A)(i) of the Internal Revenue Code of 1986 is amended by striking paragraph (3)(A)(i) and inserting clause (i) or (iii) of paragraph (3)(A). (b)

Effective date

The amendment made by this section shall apply to periods after the date of the enactment of this Act, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).