A bill to amend the Internal Revenue Code of 1954 to provide for the amortization of coal conversion facilities based on a 12-month period, and to establish a price support program for synthetic fuels produced from coal at such facilities.

[AI summary unavailable — showing source text] States Congressional findings regarding the development and commercial production of clean burning synthetic fuels from coal. Amends the Internal Revenue Code to permit the amortization of qualified coal conversion facilities, based on a 12-month period. Defines a "qualified coal conversion facility" as any machinery, equipment, or building which is used in connection with the conversion of coal into synthetic fuel or which is used to provide adequate water supplies for such conversion. Authorizes the President to enter into price guarantee contracts with operators of qualified coal conversion facilities to insure that prices received for synthetic fuels from coal will remain at levels that will enable such operators to compete with producers of other fuels.…