Energy Impact Assistance Act of 1979

Energy Impact Assistance Act of 1979 - Amends the Powerplant and Industrial Fuel Use Act of 1978 to authorize State Governors or Indian tribal governing bodies to designate energy impact areas in accordance with specified conditions concerning increases in employment, population, use of public services and facilities, and lack of financial resources to meet needs for such increased use of services and facilities resulting from the existence of a major energy development in such areas.

Requires State Governors and Indian tribal governing bodies to designate local planning units to prepare mitigation plans for each such energy impact area. Authorizes the Secretary of Agriculture to provide financial assistance to eligible States and Indian tribes to carry out planning and management activities designed to prevent or mitigate adverse impacts of major energy developments, and directs the Governors of such States and Indian tribal governing bodies to make subgrants to such local planning units. Sets forth criteria for developing mitigation plans.

Requires that States and Indian tribes having energy impacted areas submit to the Secretary a comprehensive investment strategy describing the intended use of energy impact assistance as a condition for receiving such assistance.

Authorizes the Secretary to make mitigation plan implementation grants to eligible applicants prohibited by State law from incurring debt such as in the form of Federal loans. Authorizes the Secretary to make implementation loans where permitted by State law, and authorizes loan guarantees for the same purposes.

Authorizes the Secretary to make grants, loans, loan guarantees, and payments of interest on loans to States and other eligible applicants to address the need for public facilities or services in a designated energy impact area on an expedited basis in the event energy development poses a serious threat to the public health and safety and such needs cannot be met in a sufficiently timely manner by other Federal programs.

Sets forth requirements for the non-Federal share of the cost of implementing a proposal for which assistance is made.

Limits the assistance made under this Act to a total period of five years following the receipt of the first funds for facilities and services. Prohibits the appropriation of funds in support of any program for which Federal financial assistance is available to eligible applicants under the Coastal Zone Management Act of 1972 or the Surface Mining Control and Reclamation Act of 1977.

Establishes in the United States Treasury an Inland Energy Impact Fund to provide funds for the loans and loan guarantees made under this Act.

Authorizes the Appalachian Regional Commission to apply for and receive energy impact assistance funds for energy impact areas located within the Appalachian Region.

Authorizes regional commissions established under the Public Works and Economic Development Act to apply for and receive energy impact assistance funds for energy impact areas located within such regions.

Directs the President to establish an interagency council to coordinate all Federal programs providing assistance to meet needs resulting from major energy developments.

Sets forth reporting and recordkeeping requirements.

Authorizes appropriations for fiscal years 1980 through 1985 to carry out the programs established under this Act. Sets forth criteria for the allocation of such funds as are appropriated.

Prohibits specified actions or failures to act from being used as a legal basis for delaying or prohibiting the issuance of any licenses or other authority necessary for the development, construction, or operation of a major energy development.

Requires the General Accounting Office to report to Congress on the implementation and effectiveness of this Act.