A bill to authorize the Secretary of Defense to provide special impact assistance to State and local governments and other local or regional entities for the purpose of mitigating the adverse impact on local communities resulting from the deployment of the MX missile system or from the development of the East Coast Trident submarine base.

Authorizes the Secretary of Defense to provide special impact assistance through grants or guaranteed loans to States, Indian tribes, and units of local government that will be affected by the MX missile system or the site of the east coast Trident submarine base. Requires the establishment or designation of an intergovernmental impact planning and mitigation board before such assistance may be provided. Requires such board to prepare a multiyear plan and annual program concerning community facilities and services required because of such system or base. Sets forth the procedures for applications for assistance. Directs the Secretary to review such programs and submit approved programs to Congress. Requires each board to establish procedures for implementing its functions. Directs the Secretary to inform Congress annually of the activities, costs, and major changes in each program.

Directs the Secretary to determine when an excessive financial burden or hardship on a community no longer exists and financial assistance should cease.