A bill to amend the Anadromous Fish Conservation Act in order to extend the authorization for appropriations to carry out the purposes of the Act, and to initiate an emergency investigation on the striped bass in Atlantic coastal waters.

Amends the Anadromous Fish Conservation Act to remove the prohibition against Federal sharing of the cost of maintaining structures, devices, and other facilities constructed by States under a cooperative agreement for research and development in the conservation and enhancement of anadromous fishery resources.

Provides that title to land acquired under such Act shall be in cooperating States or other non-Federal interests, instead of in the United States.

Extends the authorization of appropriations to carry out the purposes of such Act through fiscal year 1983. Stipulates that not more than $1,000,000 or 20 percent of the funds, whichever is greater, appropriated in any one fiscal year shall be obligated in any one State.

Directs the Secretary of Commerce, acting through the Director of the National Marine Fisheries Service, and the Secretary of the Interior acting, through the Director of the Fish and Wildlife Service, to cooperate with States and other non-Federal interests in conducting studies of: (1) the status of the striped bass population in Atlantic coastal waters; and (2) the factors responsible for the decline in numbers of such fish. Requires the submission to Congress of annual reports on such studies.