A bill to amend the Farm Security and Rural Investment Act to establish a biofuels promotion program to promote sustainable production of biofuels and biomass, and for other purposes.

Amends the Farm Security and Rural Investment Act of 2002 to direct the Secretary of Agriculture to establish a biofuels innovation program which shall: (1) encourage production of dedicated energy crops in a sustainable manner that protects the soil, air, water, and wildlife; (2) provide financial and technical assistance to owners and operators of eligible cropland to produce energy crops and crop mixes to support development and expansion of crop use for biofuels, power or heat generation to supplement or replace nonbiobased energy sources, and biobased products to supplement or replace non-biobased products; (3) establish biofuels innovation program project areas; and (4) provide financial and technical assistance to owners and operators for harvesting, storing, and transporting cellulosic material.

Extends (and increases for FY2008-FY2010) authorization of appropriations for research, extension, and educational programs on biobased energy technologies and products.