John Rishel Geothermal Steam Act Amendments of 2003

[AI summary unavailable — showing source text] John Rishel Geothermal Steam Act Amendments of 2003 - Amends the Geothermal Steam Act of 1970 to replace requirements governing bids and competitive bids with leasing procedures under which the Secretary of the Interior shall: (1) accept nominations at any time from qualified companies and individuals; (2) hold biennial competitive lease sales for lands located in areas for which such nominations are pending; and (3) make available for noncompetitive leasing for a two-year period any lands for which a competitive lease sale is held, but for which no competitive lease sale bids have been received. Cites circumstances under which lands leased exclusively for qualified development and direct utilization of geothermal resources shall be leased to the first qualified applicant. Permits existing lessees to convert previous leases to reflect the revisions of this Act. Reduces lease royalty percentages accruing from electricity produced using geothermal steam and associated geothermal resources. Mandates that 100 percent of such royalties received by the United States be paid at the rate of 75 percent to the host States and 25 percent to the pertinent county. Authorizes the Secretary of th…