Coal-based Generation Improvement Act - Directs the Secretary of Energy to provide certain financial incentives for the deployment of advanced coal-based generation technologies. Allows sponsors of projects using advanced coal-based generation technology to elect certain tax benefits, including an investment tax credit and accelerated depreciation.
Amends the Internal Revenue Code to allow a tax credit for investment in clean energy bonds.
Directs the Secretary to designate a federal project coordinator to facilitate federal agency approvals of eligible advanced coal generation projects.