March 9, 2010

Washington, D.C. – Nevada Senators Harry Reid and John Ensign today announced a big victory for the counties in Nevada when it comes to receiving a fair share of geothermal royalties.  Their legislation will ensure that our counties receive their cut of the money generated from geothermal energy development on public lands, which had been diverted to the federal government for fiscal year 2010.

“I thank my Senate colleagues for ensuring Nevada's counties get their fair share of geothermal revenues,” Reid said. “As Nevada’s economy continues to recover from the recession, it is important that our rural counties can access every source of revenue, especially those generated from the energy developed within their borders.  As we begin our work on next year’s budget, I will oppose any new efforts to cut Nevada counties out of the geothermal revenue picture.”

“Today is a big win for our state,” said Ensign.  “The economy across our state has been truly hurting and the loss of geothermal royalties last year has cost counties in Nevada to lose out on hundreds of thousands of dollars.  Our legislation will ensure that our state and counties receive their cut of geothermal royalties and will ensure that the economy in our state will not be forced to take another hit when it comes to monetary and job losses that stem from losing out on geothermal royalties.”

Their amendment will give 50% of geothermal royalties to the state of Nevada, another 25% will go to the counties, and the remainder 25% will be sent to the federal government.  It is estimated that this legislation will restore roughly $4 million a year to Churchill County alone.