Detailed Summary

Future Fuels Act - Amends the Internal Revenue Code to allow an investment credit to eligible manufacturers for an advanced technology motor vehicle.

Amends federal transportation law to revise the fuel economy calculations for manufacturing incentives for dual fueled and gaseous fuel dedicated automobiles.

Sets forth a calendar schedule for an increased percentage of alternative fueled automobiles or flexible fuel vehicles.

Directs the Secretary of Transportation to carry out: (1) evaluation projects to determine how technology can best be applied to assess mileage-based road user charges on major highways at peak-commuting times; and (2) a national evaluation pilot project to assess how offering commuters the option to receive the cash value of their workplace parking place, if any, instead of free parking can reduce oil usage, lessen highway congestion, and expand travel alternatives.<br>

Instructs the Secretary of Transportation (Secretary) to: (1) establish an incentives program for insurance providers to sell automobile insurance policies on a per-mile basis; (2) designate at least 20 transit-oriented development corridors in urbanized areas by 2015, and 50 by 2025; (3) award transit grants to construct or improve transit facilities, bicycle transportation facilities, and pedestrian walkways in such corridors, including capital projects; and (4) establish a transit-oriented development corridors research and development program for best practices and performance criteria.

Directs the Secretary to develop a national tire fuel efficiency program for tires designed for use on passenger cars and light trucks.

Status of the Legislation

Latest Major Action: 5/15/2007: Referred to House subcommittee. Status: Referred to the Subcommittee on Highways and Transit.

Points in Favor

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Points Against

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