Geothermal Tax Credits: Geothermal Tax Credits are scheduled to expire December 31, 1985, however pending Federal Legislation proposes to extend the tax credits for business and residential systems. The current Geothermal Tax Credit code requires that new geothermal systems be installed by 31 December 1985. The best information available at this time is that Tax Reform will not be accomplished this year and if tax credits are extended, it will be a last minute decision, i.e. do not count on an extension after the first of the year