Synthetic Hydrocarbon Development Act

Synthetic Hydrocarbon Development Act - Directs the President to aid in the planning and development and foster the execution of a national program for the development of commercially feasible process for the synthesizing of liquid and gaseous hydrocarbons from natural occurring minerals and to reduce dependence on foreign sources of fuel following the development of such synthesizing processes.

Authorizes the creation of a synthetic hydrocarbon corporation for profit which will not be an agency or establishment of the United States Government. Authorizes the corporation to conduct, or contract for, research and development of processes for the synthesizing of liquid and gaseous hydrocarbons and to furnish these processes under an appropriate franchise system.

Provides the method for appointment of the board of directors and officers of the corporation. Provides that the corporation shall have the usual powers conferred upon a stock corporation by the District of Columbia Business Corporation Act.

Directs the Office of Coal Research to cooperate with the corporation by furnishing, when requested, on a reimbursable basis, such facilities as necessary for the most expeditious and economic development of a process for the synthesizing of liquid and gaseous hydrocarbons.

Authorizes the Federal Power Commission to make such investigations of the corporation as are necessary. Prescribes the requirements for the President and the Federal Power Commission to report to Congress on the activities and accomplishments of the corporation.