National Coal Policy Act

National Coal Policy Act - Declares that it shall be the policy of the Federal Government to place major emphasis on the use of coal.

Title I: Coal Substitution - Declares that national energy self-sufficiency can be facilitated by the substitution of coal for natural gas and petroleum products. Calls for coal to be utilized as a primary steam-generating fuel. Directs that all new electric powerplants should be equipped with the capability for utilizing coal. Calls for all existing fossil fuel burning electric powerplants not scheduled for retirement, to be utilizing coal as their primary energy source by the end of ten years, in conformance with applicable environmental requirements.

Title II: Clean Air Act Amendments - States that it is the finding of the Congress that the Federal Government and the States should achieve a greater compatibility between energy requirements and environmental standards.

Directs that where environmental regulations are more restrictive than necessary for the attainment of ambient air quality standards, action should be taken to reduce such requirements.

Revises the criteria for granting variances from established regulations. Provides that technological and economic factors shall be given equal consideration with the environment.

Title III: Utility Investment tax Credits - Allows electric utilities an investment tax credit under the Internal Revenue Code for construction of qualified facilities. Allows a one-year straight-line amortization under the Code for the installation of pollution control facilites in a pre-1969 plant and for conversion of a facility to nonpetroleum fuel.

Allows a utility to elect to begin depreciation for purposes of Federal income income tax, during the construction period, of accumulated construction progress expenditures. Authorizes shareholders of regulated public electric utilities to postpone tax on dividends paid by the utility on its common stock by electing to take additional common stock of utility in lieu of cash dividends.

Title IV: Assistance to Railroads - Authorizes low cost federal loans to railroads in serious financial difficulties. Allows a Federal income tax credit of twelve percent for construction of new facilities designed primarily for coal transportation. Allows a one-year writeoff for the cost of construction and improvements of facilities designed for coal transportation.

Title V: Coal Pipeline Development - Authorizes railroads to operate coal pipelines on their right-of-way. Authorizes the Secretary of the Interior to grant certificates of public convience and necessity for such railroads to exercise the power of eminent domain in order to acquire necessary rights-of-way for pipeline construction.

Title VI: Mining and Mineral Research and Manpower Training - Authorizes Federal grants, on a matching State fund basis, to public colleges and universities for programs dealing with mineral engineering, mining, mine safety, and mineral research.

Title VII: Funding Authorizations For Coal Mining and Preparation Research - Authorizes the appropriation of $60,000,000 to the Bureau of Mines for a coal extraction technology program.

Title VIII: Pilot Testing of Coal Land Reclamation Proposals - Authorizes the Bureau of Mines to make grants to States for reclamation research.

Title IX: Synthetic Fuels Development Assistance - Allows a one-year amortization for purposes of Federal income tax, for the cost of construction of facilities designed for the purpose of developing synthetic fuels from coal.

Authorizes the Federal Government to enter into long-term purchase contracts for synthetic fuels produced from coal.

Title X: Writeoff for Coal Mine Equipment - Allows coal procedures to elect a one-year amortization for new coal mining equipment.

Title XI: District, or Centralized, Heating Systems - Authorizes financial incentives such as guaranteed Federal loans, investment tax credits, and one-year tax writeoffs, for construction and operation of centralized heating systems.

Title XII: Definitions and Report - Directs that the Secretary of the Interior shall have responsibility for carrying out the national coal policy. Requires the Secretary to include in his annual report the state of such program and recommendations for additional legislation as may be necessary to implement the policy of this Act.