Amends the Clean Air Act to extend to 2025 certain requirements increasing the applicable volume of renewable fuel in gasoline.
Amends the Energy Policy Act of 1992 to require the head of each federal agency to ensure that, in areas in which ethanol-blended gasoline is reasonably available at a generally competitive price, the agency purchases such gasoline with at least 10% ethanol, rather than nonethanol-blended gasoline, for its vehicles that use gasoline.
Amends the Farm Security and Rural Investment Act of 2002 to: (1) authorize appropriations for FY2007-FY2015 to the Department of Agriculture bioenergy program; and (2) direct the Secretary of Agriculture to give priority to production of both cellulosic ethanol, and hydrogen using ethanol technology.
Amends the Internal Revenue Code to make ethanol and biodiesel refining property eligible for 7-year depreciation.
Creates a new flexible fuel hybrid motor vehicle income tax credit.
Extends: (1) the alternative technology vehicle credit through calendar 2014; (2) the alternative fuel vehicle refueling property credit through calendar 2024; (3) the volumetric excise tax credit for alternative fuels and the alternative fuel mixture credit through FY2014; and (6) the biodiesel producer credit and the small ethanol producer credit through calendar 2024.