Motor Vehicle Safety Authorization Act of 1986 - Amends the following Acts to authorize appropriations for FY 1987 and 1988: (1) the National Traffic and Motor Vehicle Safety Act of 1966; and (2) the Motor Vehicle Information and Cost Savings Act with respect to bumper standards, automobile consumer information, and odometer requirements.

Prohibits the licensing of motor vehicles when the ownership is leased or transferred unless: (1) the application for a new certificate of title is accompanied by the prior owner's title; and (2) the new certificate of title is printed in a specified manner indicating the odometer mileage.

Authorizes States to submit alternative mileage disclosure requirements for the approval of the Secretary of Transportation (the Secretary).

Provides that auction companies selling motor vehicles must maintain records showing: (1) the name of the most recent owner; (2) the vehicle identification number; and (3) the odometer reading on the date the auction company took possession of the vehicle.

Requires such mileage information to be disclosed by the lessee to the lessor of a leased motor vehicle when the lessor transfers ownership of the vehicle.

Increases the civil penalty for violations of the odometer requirements from $1,000 t0 $2,000, and increases the criminal penalty for such violations from one to three years maximum imprisonment.

Amends the National Traffic and Motor Vehicle Safety Act of 1966 to authorize a tire dealer or distributor whose business is not owned or controlled by a tire manufacturer to elect to be subject to tire registration requirements.

Repeals the authority of the Secretary and the Secretary of the Treasury to permit the temporary importation of vehicles that do not conform to Federal safety standards.

Revises procedures under which certain imported vehicles that do not conform to Federal standards are allowed into the United States upon the importer's compliance with conditions imposed by the Secretary regarding: (1) Federal motor vehicle safety standards; (2) recordkeeping and inspection of records and facilities relating to imported nonconforming vehicles; (3) inspection of non-conforming imported vehicles to ensure compliance with Federal motor vehicle safety standards; (4) payment by registered importers of non-conforming vehicles of a fee to cover the administrative expenses of the Federal compliance program; and (5) the furnishing of evidence by a registered importer of sufficient financial responsibility to meet obligations relating to discovery, notification, and remedy of motor vehicle defects.

Allows any individual (not just registered importers) to import non-conforming foreign motor vehicles if such import is for personal use and not intended for resale at the time of importation, and if the individual posts bond and complies with other terms and conditions determined by the Secretary. Authorizes the Secretary to require that such vehicles be brought into conformity with the Federal safety standards by a registered importer.

Makes the restrictions against non-conforming imported automobiles inapplicable to vehicles imported on a temporary basis for personal use (and not for resale) by any individual who: (1) is a member of the personnel of a foreign government on assignment in the United States for whom the Secretary of State has authorized free entry of motor vehicles; (2) is a member of the armed forces of a foreign country on assignment in the United States; or (3) is a member of the Secretariat of a public international organization so designated under the International Organizations Immunities Act. Makes such restrictions also inapplicable to members of the uniformed services and others employed abroad who acquire vehicles before the enactment of this Act and meet other specified requirements.

Exempts non-conforming foreign motor vehicles that are 25 years old (or older) from the restrictions imposed by this Act.

Authorizes the Secretary to exempt certain motor vehicles or equipment from certain restrictions for purposes of research, investigation, study, demonstration, training, or competitive racing events.

Requires motor vehicle distributors to furnish dealers with the manufacturer's certification previously furnished to the distributor.

Makes the effective date of this Act the date regulations are promulgated by the Secretary or one year after the date of enactment of this Act, whichever comes first. Requires the Comptroller General to: (1) review the importation control program to determine whether extension of such program is warranted, and whether the Federal standards are being met; and (2) report to the Congress concerning such review.

Prohibits granting exemptions from energy conservation requirements for motor vehicle importers registered under this Act.

Sets forth certification procedures for motor vehicles manufactured and assembled in a country whose motor vehicle safety standards corresponed to Federal standards. Conditions the certification of such motor vehicles upon a declaration by the manufacturer that the country of origin of such vehicles, in applying its safety standards to vehicles manufactured in the United States and exported for sale to such country, accepts the certification by the United States manufacturer that the vehicle conforms to the country's corresponding safety standards.

Prohibits lessors from furnishing lessees with copies of recall notices sent by the manufacturer or the Secretary regarding motor vehicle defects.

Amends the Motor Vehicle Information and Cost Savings Act to direct the Secretary to promulgate regulations establishing passenger motor vehicle bumper system labeling requirements. Requires that comparative information regarding bumper system impact speed rating be distributed to the public.

Directs the Secretary to arrange with the National Academy of Sciences to conduct a study of the effectiveness of State motor vehicle safety inspection programs in reducing highway accidents and limiting the number of defective or unsafe motor vehicles on the highways. Requires completion of the study and transmittal to the Congress within 18 months after the date of enactment of this Act.

Amends the National Traffic and Motor Vehicle Safety Act of 1966 to direct the Secretary to promulgate minimum standards for the installation and performance of splash and spray suppression devices on truck tractors, semitrailers, and trailers. Directs the Secretary to ensure that such standards foster competition among manufacturers of such devices.

National Highway Traffic Safety Administration Authorization Act of 1985 - Title I: Authorizations of Appropriations - Authorizes appropriations for FY 1987: (1) under the National Traffic and Motor Vehicle Safety Act of 1966; and (2) for the bumper standards, automobile consumer information study, and odometer requirements provisions of the Motor Vehicle Information and Cost Savings Act.

Authorizes the Secretary of Transportation (the Secretary) to derive a specified maximum amount from unobligated highway safety program funds to implement a national program encouraging the use of safety belts and passive restraints (airbags) in passenger automobiles.

Title II: Highway Safety Grants - Amends the Surface Transportation Assistance Act of 1982 to authorize appropriations for FY 1987 to the National Highway Traffic Safety Administration to carry out highway safety programs.

Authorizes appropriations out of the Highway Trust Fund to implement alcohol traffic safety programs for FY 1987 (drunk driving incentive grants).

Title III: Automobile Crashworthiness - Directs the Secretary to reopen certain rulemaking proceedings to implement the Federal Motor Vehicle Safety Standard. Directs the Secretary to: (1) establish performance criteria for improved occupant protection in side impact; and (2) issue an Advance Notice of Proposed Rulemaking to extend the applicability of such Standard to light trucks, vans, and multipurpose passenger vehicles.

Amends the Motor Vehicle Information and Cost Savings Act to direct the Secretary to enter into arrangements with the National Academy of Sciences to study means of establishing a method for calculating a uniform numerical rating enabling consumers to compare meaningful passenger automobile crashworthiness data. Prescribes the contents of such study. Requires that a report of such study be submitted to the Secretary and the Congress within 18 months after the date of enactment of this Act.

Prescribes schedules for: (1) obtaining public comment on implementation of National Academy recommendations; (2) determining whether an objectively based system of comparative crashworthiness data can be established; (3) promulgating a rule to establish such a system, if the determination is positive; (4) submitting the proposed rule for review to specified congressional committees; (5) waiting 60 calendar days after such submission, unless both committees notify the Secretary that they have no objection to the rule; and (6) establishing (by rule) procedures requiring auto dealers to make comparative crashworthiness data available to prospective customers. Authorizes appropriations for FY 1987 for highway safety research and development.

Title IV: Control of Importation of Certain Vehicles to Ensure Compliance with Safety Standards. Amends the National Traffic and Motor Vehicle Safety Act of 1966 to prescribe conditions for the admission of foreign motor vehicles (or motor vehicle equipment) into the United States. Requires importers of non-complying motor vehicles to register with the Secretary, and to pay fees to cover the expenses of administering the Federal non-complying foreign motor vehicles program.

Requires the Secretary to make determinations upon the petition of registered importers as to which vehicles are capable of being modified to meet Federal safety standards. Conditions the importation of the particular type of vehicle covered by such petition upon vehicle modification in conformance with the procedures established in the petition. Requires the Secretary to inspect vehicles and modification facilities to determine compliance with the modification standards.

Makes the direct importer responsible for: (1) motor vehicle recordkeeping; (2) payment of certain gas guzzler taxes under the Energy Tax Act of 1978; and (3) compliance with Federal labeling requirements regarding automotive fuel economy ratings. Establishes penalties for non-performance of such responsibilities, including the revocation or suspension of an importer's registration, or civil penalties up to $5,000 for each violation (not to exceed $800,000 for any related series of violations).

Authorizes a State to require a registered importer to provide a notarized English translation of all title and ownership documentation.

Deems a registered importer to be a manufacturer with respect to motor vehicles subject to defect recalls.

Requires the General Accounting Office to report annually to certain congressional committees regarding the administration of this Act. Requires the Secretary to: (1) conduct and submit a study to the Congress regarding the effectiveness of this Act; and (2) promulgate regulations to implement this Act within eight months after the date of enactment. Authorizes any person to commence a civil action against the Secretary for alleged failure to promulgate such regulations by such deadline.

National Highway Traffic Safety Administration Authorization Act of 1985 - Title I: Authorizations of Appropriations - Authorizes appropriations for FY 1986 and 1987: (1) under the National Traffic and Motor Vehicle Safety Act of 1966; and (2) for the bumper standards, automobile consumer information study, and odometer requirements provisions of the Motor Vehicle Information and Cost Savings Act.

Authorizes the Secretary of Transportation (the Secretary) to derive a specified maximum amount from unobligated highway safety program funds to implement a national program encouraging the use of safety belts and passive restraints (airbags) in passenger automobiles.

Title II: Highway Safety Grants - Amends the Surface Transportation Assistance Act of 1982 to authorize appropriations for FY 1987 to the National Highway Traffic Safety Administration to carry out highway safety programs.

Authorizes appropriations out of the Highway Trust Fund to implement alcohol traffic safety programs for FY 1987.

Title III: Automobile Crashworthiness - Directs the Secretary to reopen certain rulemaking proceedings to implement the Federal Motor Vehicle Safety Standard. Directs the Secretary to: (1) establish performance criteria for improved occupant protection in side impact; and (2) apply the Federal Motor Vehicle Safety Standard to light trucks, vans, and multipurpose passenger vehicles.

Amends the National Traffic and Motor Vehicle Safety Act of 1966 to require the Secretary to promulgate a Federal motor vehicle safety standard establishing passenger automobile crashworthiness rating and labeling requirements for such automobile manufactured on or after September 1, 1986.

Amends the Motor Vehicle Information and Cost Savings Act to require the Secretary to require automobile dealers to make available to prospective purchasers data comparing the crashworthiness of passenger automobiles.

Title IV: Gray Market Automobiles - Amends the National Traffic and Motor Vehicle Safety Act of 1966 to revise restrictions on certain imported vehicles that do not conform to Federal standards. Authorizes the Secretary to exempt certain motor vehicles or equipment from such restrictions for purposes of research, investigation, study, demonstration, training, competitive racing events, national security, or completion in the United States of an incomplete foreign-built vehicle or equipment item.

Authorizes the Secretaries of Transportation and of the Treasury to promulgate joint regulations which authorize the importation of non-conforming vehicles if an individual has never imported such a vehicle before and seeks to do so for personal use to meet unforeseen cases of extreme hardship or extraordinary circumstances. Permits such regulations to require the vehicles, as a condition of importation, to be brought into conformity with prescribed safety standards.

National Highway Traffic Safety Administration Authorization Act of 1985 - Title I: Authorizations of Appropriations - Authorizes appropriations for FY 1986 and 1987: (1) under the National Traffic and Motor Vehicle Safety Act of 1966; and (2) for the bumper standards, automobile consumer information study, and odometer requirements provisions of the Motor Vehicle Information and Cost Savings Act.

Authorizes the Secretary of Transportation (the Secretary) to derive a specified maximum amount from unobligated highway safety program funds to implement a national program encouraging the use of safety belts and passive restraints (airbags) in passenger automobiles.

Title II: Drunk Driving Incentive Grants - Amends the Surface Transportation Assistance Act of 1982 to authorize appropriations for FY 1987 to the National Highway Traffic Safety Administration to carry out highway safety programs.

Authorizes appropriations out of the Highway Trust Fund to implement alcohol traffic safety programs for FY 1987.

Title III: Directs the Secretary of Transportation to reopen certain rulemaking proceedings to implement the Federal Motor Vehicle Safety Standard. Directs the Secretary to: (1) establish performance criteria for occupant protection in side impact under dynamic crash tests; and (2) apply the Federal Motor Vehicle Safety Standard to light trucks, vans, and multipurpose passenger vehicles.

Amends the National Traffic and Motor Vehicle Safety Act of 1966 to require the Secretary to promulgate a Federal motor vehicle safety standard establishing passenger automobile crashworthiness rating and labeling requirements for such automobiles manufactured on or after September 1, 1986.

Amends the Motor Vehicle Information and Cost Savings Act to require the Secretary to require automobile dealers to make available to prospective purchasers data comparing the crashworthiness of passenger automobiles.