A bill to amend the Internal Revenue Code of 1986 to provide for the amortization of delay rental payments and geological and geophysical expenditures.

Amends the Internal Revenue Code to allow the amortization, over a 24-month period, of: (1) delay rental payments for the development of oil or gas wells in the United States; and (2) geological and geophysical expenses incurred in the exploration for, or development of, oil or gas in the United States.