A bill entitled the "Mobile Source Pollution Control Act of 1977."

Mobile Source Pollution Control Act - Amends the Clean Air Act to postpone until model year 1980 motor vehicle emission standards which require a 90 percent reduction in emissions of carbon monoxide and hydrocarbons. Extends the current interim standards through model year 1978.

Extends until model year 1978 the current 2.0 grams per vehicle mile interim standard for nitrogen oxides emissions from light-duty vehicles.

Specifies additional emission standards applicable in model years 1979, 1980, 1981, and 1982. Establishes a system of penalties and rebates to encourage reduction of motor vehicle emissions during such model years.

Authorizes the Administrator of the Environmental Protection Agency to make grants to States and localities for the implementation of transportation control plans. Stipulates that the amount of such grants shall not exceed the amount collected in emission penalties, less the amount of rebates or incentive payments under the provisions of this Act.