Advanced Biofuel Investment Act of 2010 - Amends the Internal Revenue Code to allow a 30% energy tax credit for investment in qualified advanced biofuel production property. Defines "qualified advanced biofuel production property" as property used exclusively to produce advanced biofuels for sale to unrelated persons. Terminates such credit after 2014.
Amends the American Recovery and Reinvestment Tax Act of 2009 to allow investors in advanced biofuel production property a grant in lieu of a tax credit for investment in such property. Requires grant recipients to reinvest in advanced biofuel production property within 12 months after receipt of a grant payment.
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