Synthetic Fuels Act

Synthetic Fuels Act - Amends the Federal Nonnuclear Energy Research and Development Act of 1974 to authorize the Administrator of the Energy Research and Development Administration to guarantee loan obligations issued for the purposes of financing the constructional and operation costs of commercial demonstration facilities for: (1) the conversion of coal and other resources into synthetic fuels; (2) the generation of energy from renewable sources; (3) the development of energy-efficient industrial equipment; and (4) geothermal resource development.

Requires the concurrence of the Secretary of the Treasury with respect to the conditions of any such guarantee. Prescribes limits for the total amount of outstanding indebtedness subject to Federal guarantees. Details conditions under which the Administrator may guarantee an obligation.

Establishes procedures for consultation with affected States, localities and Indian tribes. Prohibits the making of Federal commitments where the Governor of the affected State is opposed unless there is an overriding national interest favoring such Federal action.

Specifies procedures in the event of a default of any guarantee under this Act.

Authorizes the Administrator to make financial payments to affected States, localities, and Indian tribes for the financing of essential community development and planning resulting from the construction of any facilities assisted by this Act.

Requires full reports to Congressional committees on proposed Federal actions under this Act. Directs the Administrator to submit a comprehensive plan for energy productions and conservation demonstration programs to the Congress.

Establishes a separate fund in the Treasury to finance the programs authorized by this Act. Makes funds from the Geothermal Resources Development Fund available for loan quarantees for geothermal resource development and demonstration projects.