A bill to provide and protect employment opportunities in steel, coal, and automobile impacted communities.

Amends the Public Works and Economic Development Act of 1965 to establish a program of job creation or preservation assistance to steel, coal, and auto impacted communities.

Authorizes the appropriation of a specified amount of tax revenues to the Secretary of Commerce for programs under such Act to assist communities and businesses, and industries within such communities or which intend to move to such communities, in areas substantially or potentially affected by the closing of a steel manufacturing or processing, coal production or processing, or auto or auto parts production facility prior to the end of fiscal year 1981 to create or preserve area jobs.

Allocates specified amounts of such funds to steel impacted areas, to coal impacted areas, and to areas impacted or potentially impacted by automobile plant closings announced prior to December 1, 1979.

Requires that: (1) consideration under such program be given to facilities with the current or planned capacity to produce coke for domestic consumption; (2) such assistance be available for planning, siting, construction, plant, and equipment costs; and (3) the plant, and its industrial processes to be constructed or expanded, incorporate to the greatest extent possible the latest energy efficiency and conservation developments.

Directs the Secretary of Commerce, after consulting with the Secretaries of Labor and Housing and Urban Development, to provide approved applicants with financial assistance to carry out such job creation and preservation programs.