Ground Propulsion Systems Research, Development, and Demonstration Act - Creates in the Energy Research and Development Administration a Division of Ground Propulsion Systems. Directs the Administration to carry out all the research, development, and demonstration activities regarding ground propulsion systems through such Division.

Requires that such activities shall be conducted so as to contribute to specified objectives, including: (1) the improvement of and verifying of ground propulsion systems with emphasis on efficiency, performance, and usefulness; and (2) the development of energy conserving ground propulsion systems.

Directs the Administrator, to report annually to the President and the Congress with respect to all actions taken under the provisions of this Act during the prior calendar year, and all action planned for the ensuing year.

Directs the Administrator to establish an advisory board for the purpose of encouraging the private sector to participate in the research, development, and demonstration carried out pursuant to this Act.

Authorizes the appropriation of specified sums for the fiscal years 1976 through 1980 to carry out this Act.