Natural Gas Energy and Alternatives Rewards Act or the NGEAR Act - Amends the Internal Revenue Code to extend through 2016: (1) the excise tax credits for alternative fuels and alternative fuel mixtures; and (2) the tax credit for depreciable property used for alternative fuel vehicle refueling, including property relating to hydrogen.

Amends the Energy Policy and Conservation Act to direct the Secretary of Transportation (DOT) to establish a rebate program through 2016 for the purchase of alternatively fueled buses by: (1) a public or private entity providing transportation exclusively for school students, personnel, and equipment; or (2) a public entity providing mass transit services to the public. Allows such entities a rebate equal to the lesser of 30% of the purchase price of such a bus or $15,000.