Energy Community Self-Help Act of 1981

Energy Community Self-Help Act of 1981 - Amends the Internal Revenue Code to permit taxpayers to elect to deduct in one taxable year otherwise deductible prepaid State or local taxes, fees, rents, or royalties which are used by such States or localities to meet population growth needs arising out of the operation of major energy and resource development activities. Specifies that the prepayment of such taxes, fees, etc. must be permitted or required by State or local law.

Defines "operation of major energy and resource development" as the development, operation, and construction of any facility used primarily for the development of minerals, operated in connection with a synthetic fuel project, or an electric generation facility designed for coal use. Requires that capital expenditures for such facility or gross income received over the life of such facility exceed $50,000,000.

Allows an income tax deduction for amounts paid to State and local governments as energy impact assistance. Defines "energy impact assistance amounts" as contributions made to State and local governments to provide certain facilities or services required to meet population growth needs resulting from energy and resources development activities.