Geothermal Steam Act Amendments of 1988

(Measure passed House, amended)

Geothermal Steam Act Amendments of 1988 - Amends the Geothermal Steam Act of 1970 to remove bona fide sales of geothermal steam as a requirement to geothermal lease extensions. Amends the commercial production or utilization requirement of geothermal steam leases to include wells capable of producing geothermal steam in commercial quantities only if the Secretary of the Interior (the Secretary) determines that diligent efforts are being made towards geothermal steam utilization. Permits extension of lease terms for up to two successive five-year periods even though geothermal steam has not been produced or utilized in commercial quantities by the end of its primary or extended term if the lessee can show bona fide production or utilization efforts and: (1) make annual payments in lieu of the production of commercial quantities; or (2) demonstrate significant expenditures on an annual basis.

Requires the Secretary to review cooperative or unit plans of development on a five-year periodic basis in order to eliminate those leases that are not regarded as reasonably necessary to operations.

Requires the Secretary to maintain a list of National Park system units with significant thermal features, and to maintain a monitoring program for such features. Specifies units to be listed. Directs the Secretary to determine if operations proposed by a lease applicant would likely subject significant thermal features within the National Park System to significant adverse effects. Prohibits the issuance of a lease upon such a finding. Mandates that stipulations designed to protect significant thermal features be included in leases and drilling permits.

Requires the Secretary of Agriculture to consider the effects on significant thermal features within units of the National Park System in determining whether to consent to leasing lands under his jurisdiction.

Prohibits the Secretary from issuing a lease for land within the Island Park Geothermal Area. Requires the Secretary to report to the Congress regarding the presence or absence of significant thermal features within Crater Lake National Park. Suspends all geothermal resource production (including leases and drilling permits) in the Corwin Springs Known Geothermal Resources Area until 180 days after the United States Geological Survey has submitted to the Congress an impact study of present and potential geothermal resources development in such areas on thermal features within Yellowstone National Park.