Impact Reduction of Energy Resources Act of 1979

Impact Reduction of Energy Resources Act of 1979 - Directs the Secretary of Energy to study petitions for reorganization in bankruptcy of railroad lines or applications for abandonment of railroad lines and rail transportation to determine the impact of such plans and applications upon the transportation of coal. Directs the Secretary to oppose such actions as he determines may reduce or curtail present or future coal shipments.

Provides for loans or grants to an applicant for the maintenance of coal transportation services.

Requires the Secretary to provide temporary assistance to any coal-fired electric generating utilities when such utility is partially or completely serviced by a railroad or a rail carrier which has filed for reorganization in bankruptcy or for abandonment. Limits the use of such assistance to the lease or purchase of coal cars to maintain service which contributes to meeting a balanced overall utilization of domestic energy supplies.

Amends the Railroad Revitalization and Regulatory Reform Act of 1976 and the Powerplant and Industrial Fuel Use Act of 1978 to make railroads eligible for assistance under this Act.