National Environmental Policy Institute Act

National Environmental Policy Institute Act - Amends the National Environmental Policy Act to authorize the creation of the National Environmental Policy Institute as a nonprofit corporation.

Lists the duties of the Institute, including (1) development and analysis of long-term environmental policy alternatives; (2) disclosure of advice and information to Congress and to the public; and (3) identification of areas where additional research is required. Establishes procedures governing the operation of the Institute.

Authorizes the appropriation of $10,000,000 for each of fiscal years 1978 through 1982. Requires annual auditing of the accounts of the Institute. Directs the Institute to submit an annual report of its activities to the President and the Congress.