Energy Conservation Research and Development Act

Energy Conservation Research and Development Act - Establishes the Energy Conservation Research and Development Corporation, having a Board of five Directors, of whom one shall be elected annually by the Board to serve as Chairman. Provides for the appointment, terms of office, and rates of compensation of such Board members.

States that it shall be the function of the Corporation, from moneys available to it in the fund established by this Act, to conduct research and development in, and contract with any State or political subdivision, Federal agency, or private corporation for the conduct of research and development in, areas which offer substantial potential for the conservation of energy resources, including: (1) improvement in materials for, and design of, buildings to conserve energy resources; (2) urban area design; (3) improvement of transportation vehicles, with emphasis on small cars and alternatives to the internal combustion engine; (4) improvement in design of transportation systems; and (5) improvement in the energy-utilization efficiency of industrial processes.

Provides that, in utilizing the results of such research and development, the Corporation shall have authority to exercise enumerated powers, including: (1) enter into arrangements to utilize, on an experimental or demonstration basis, the results of activities carried out pursuant to this Act; (2) make recommendations to appropriate Federal agencies and departments, including regulatory agencies; and (3) provide energy conservation information to any Federal or State executive or legislative body.

Requires the Corporation to transmit annual reports of its activities to the President and the Congress. Provides for the dissolution of the Corporation on or before the expiration of ten years.

States that the Corporation shall not extend any assistance, financial or otherwise, or enter into any agreement unless a State first agrees to establish an Energy Conservation Council whose functions shall be to: (1) coordinate energy conservation efforts on a State level; (2) disseminate the results of energy conservation activities carried out under this Act; (3) provide advice to State and local governmental units and private industry on energy research and development, including consulting and technical services; and (4) advise the Corporation with respect to areas the State deems to be of high priority for research by the Corporation.

Establishes in the Treasury of the United States the Energy Conservation Research and Development Fund. Provides for the crediting of specified monies to such Fund. Authorizes to be appropriated to the fund, for fiscal year 1974, and for each of the next following nine fiscal years, such amount as is necessary to make the income of the fund $200,000,000 for fiscal year 1974; $300,000,000 for fiscal year 1975; and $500,000,000 for each of the next following eight fiscal years.