Energy Impact Assistance Act of 1981

Energy Impact Assistance Act of 1981 - Amends the Powerplant and Industrial Fuel Use Act of 1978 to authorize the designation of an energy impacted area in a State or an area under the control of an Indian tribe if: (1) there is or will be a major energy development (a facility used for obtaining depletable energy resources, the construction or operation of an electric generation facility designed to consume coal or meet the energy needs of a synthetic fuels project, any major federally funded energy project and uranium processing, nuclear spent fuel storage and waste facilities, or the Alaska Natural Gas Transportation System) in such area; (2) as a result of such energy development, employment in, or population directly related to, energy development activities has increased by eight percent or more or will increase by 24 percent or more within a specified time period; (3) such population or employment increases require substantial increases in public facilities and services in such area; and (4) the State and local governments or the governing body of an Indian tribe lack the financial and other resources to meet the needs for such facilities and services. Requires approval of such a designation by the Secretary of Energy. Terminates approval of energy impacted area designations five years after approval.

Requires that a local planning unit selected by the Governor or governing body of an Indian tribe prepare for each energy impacted area a mitigation plan which shall: (1) identify (A) the projected impact of each major energy development on the economy of such area, the surrounding communities, and the State, (B) the specific needs for public facilities and services in such area and specific proposals to mitigate such needs, and (C) the availability and location of funds and resources, the authority, and the steps the State, local government, or governing body of an Indian tribe will take to implement such proposals; (2) insure the return of the proceeds from any loan repayments by a State or Indian tribe to the Treasury; (3) provide for review and revision of the mitigation plans; and (4) be consistent with any planning assisted or required by any Federal law.

Requires approval of such plan by the Secretary of Agriculture prior to the provisions of assistance under such Act. Prohibits the provision of funds to implement approved mitigation plans unless a comprehensive investment strategy describing the intended use within a State or by an Indian tribe of all financial assistance requested is submitted to, and approved by, the Secretary of Agriculture. Permits modification and resubmission of a comprehensive investment strategy which the Secretary of Agriculture has disapproved.

Authorizes the Secretary of Agriculture to make implementation grants to an applicant if no practical alternative for providing financial assistance is available or if the applicant has or will have extraordinary short-term increases in demand for public facilities or services during the construction of a major energy development and there is no reasonable assurance of repayment of financial assistance within 30 years. Restricts a grant in the latter case to 45 percent of the costs of providing public facilities and services to meet the peak demand. Allows grants made in other cases to be used for acquisition, construction, rehabilitation, alteration, expansion, or improvement of public facilities and services. Limits to two percent of any such grant the amount which may be used for administrative expenses.

Authorizes the Secretary of Agriculture to make direct and insured implementation loans to energy impacted areas for public facilities and services if there is a reasonable expectation of repayment. Permits such loans to be expended directly by the recipient or redistributed by the recipient to nonprofit public entities. Requires that interest rates on such loans be determined by the Secretary of Agriculture. Authorizes the Secretary of Agriculture to modify the loan terms and conditions, make a supplemental loan, or forgive all or any portion of a loan (under specified circumstances) if a loan recipient is unable to meet its obligations despite good faith efforts. Makes a loan recipient for which any loan obligation is forgiven ineligible for further loans for two years from the date of such forgiveness.

Authorizes the Secretary of Agriculture to guarantee loans to applicants to carry out approved mitigation plans. Provides that the interest rate on such loans shall be agreed upon by the lender and borrower but may not exceed a rate determined by the Secretary of Agriculture. Authorizes such Secretary to purchase the guaranteed portion of any loan guaranteed under this Act if such portion does not exceed an amount equal to the unpaid principal balance and accrued interest on the guaranteed portion.

Authorizes the designation of an area as an emergency energy impacted area if such area is an approved energy impacted area, there is a serious threat to the public health and safety within such area because of the major energy development, and a preliminary mitigation plan has been submitted to the Secretary of Agriculture. Authorizes grants, loans, payments to reduce interest on loans, and loan guarantees to any eligible applicant on an expedited basis for public utilities or services in a designated emergency energy impacted area if such needs cannot be met with other assistance programs.

Requires a grant recipient to provide 25 percent of the total costs of implementing the proposal for which assistance is made.

Establishes in the U.S. Treasury an Energy Impact Insurance Fund to be used by the Secretary of Agriculture to discharge obligations under contracts guaranteeing or insuring energy impact loans. Limits such obligations to $400,000,000 per fiscal year.

Requires that, to the extent feasible, assistance be provided to States for redistribution to other applicants so as to facilitate statewide planning and coordination of energy impact assistance.

Authorizes the payment of funds to regional commissions for multi-state assistance for areas impacted by increased coal or uranium production.

Directs the President to establish an interagency council to coordinate all Federal programs providing energy impact assistance. Directs the Secretary of Agriculture to designate an organizational unit to administer the energy impact assistance program, provide information about Federal assistance programs and energy impact mitigation, and make recommendations for improving coordination of such Federal programs.

Authorizes the Secretary of Energy and the Secretary of Agriculture to promulgate regulations to carry out the energy impact assistance program.

Provides for termination of energy impact assistance if the State or governing body of an Indian tribe receiving such assistance fails to comply with the terms of such assistance.

Requires the Secretary of Energy to submit to Congress an annual report on the energy impact assistance program. Authorizes appropriations for fiscal years 1982 through 1985. Limits the amounts from such appropriations which may be used for grants and expedited assistance and the total principal amount of loans which may be guaranteed. Specifies appropriations for the Energy Impact Insurance Fund.

Prohibits the delay of any major energy development. Requires the General Accounting Office to report to Congress on the status and effectiveness of the energy impact assistance program. Prohibits the transfer of the authority of the Secretary of Energy or the authority of the Secretary of Agriculture under this Act to any other Secretary or Federal agency.