Coal Liquefaction Corporation

Coal Liquefaction Corporation - Declares the findings of Congress and states that it is the policy of the Federal Government to develop coal liquefaction processes by establishing a Government-industry program to demonstrate commercial methods of producing synthetic liquid petroleum products from coal.

Establishes the Coal Liquefaction Corporation and details the composition of its Board of Directors and their compensation. Provides that it is the function of the Corporation to (1) select the two or more technically, environmentally, and economically feasible methods for producing synthetic liquid petroleum products from coal; (2) design, construct, operate, and maintain a demonstration facility for each such method selected to determine its feasibility; and (3) if the method is feasible for producing synthetic liquid petroleum from coal on commercial scale, to construct a commercial-size facility.

Sets forth additional authorities conferred on the Corporation. States that on or before the expiration of twelve years the Board of Directors shall dissolve the Corporation.

Authorizes to be appropriated to the Corporation, for fiscal year 1974, $7,500,000, and, for each of the next eleven succeeding fiscal years, such sums as may be necessary.

Authorizes the Director of the National Science Foundation to fund basic and applied research related to energy in support of the objectives of this Act.