Used Oil Re-Refining Tax Credit Act of 2010

Used Oil Re-Refining Tax Credit Act of 2010 - Amends the Internal Revenue Code to allow a tax credit for 30% of the investment in a project to process qualifying re-refined lubricating oil from used oil. Defines "qualifying re-refined lubricating oil" as a base oil which meets the American Society of Testing and Materials standard for hydrocarbon lubricating base oil (ASTM D6074) and which is manufactured from used lubricating oil.

Directs the Secretary of the Treasury, in consultation with the Secretary of Energy, to establish a qualifying used oil re-refining project program for the deployment of used oil re-refining technologies.