A bill to amend the Internal Revenue Code of 1954 to allow a deduction with respect to the exhaustion of geothermal steam and geothermal resources.

Amends the Internal Revenue Code to allow as a deduction an amount equal to 25 percent of the gross income from geothermal steam and geothermal resources property.

Limits such deduction to a maximum of 50 percent of the taxpayer's taxable income from the geothermal steam and geothermal resources property for the taxable year.