Amends the Toxic Substances Control Act to prohibit, three years after the enactment of the MTBE Elimination Act, the use of MTBE as a fuel additive.
Establishes an MTBE research grants program within EPA.
Directs the Administrator to promulgate rules requiring a .5 pounds per square inch Reid vapor pressure allowance for all reformulated gasoline containing 3.5 percent oxygen by weight to account for the impact of reduced carbon monoxide emissions on ozone air quality. Provides that any additional volatile organic compound emissions resulting from the use of such gasoline should be deemed to be fully offset and not calculated in determining compliance with certain Clean Air Act provisions dealing with reasonable further progress plans or demonstrations.