S 280 · 109th Congress · Taxation

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

Introduced 2005-02-03· Sponsored by Sen. Hutchison, Kay Bailey [R-TX]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S984)(2005-02-03)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only