Steel Industry Compliance Extension Act of 1981

[AI summary unavailable — showing source text] Steel Industry Compliance Extension Act of 1981 - Amends the Clean Air Act to authorize the Administrator of the Environmental Protection Agency to extend the date for compliance with emission limitation requirements by owners or operators of a stationary source in an iron and steel producing operation if: (1) the compliance date extension is necessary to allow the applicant to make capital investments in its operations to improve efficiency and productivity; (2) the funds freed by such extension will be used within two years for additional capital investments in the applicant's operations; (3) the Administrator and the applicant agree to a phased compliance program for each of the applicant's stationary sources; (4) the applicant has sufficient funds to comply with such program; (5) the applicant is in compliance with any existing Federal decrees applicable to its operations; and (6) the compliance date extension will not result in the degradation of air quality during the extension term. Prohibits the imposition of a noncompliance penalty under the Clean Air Act upon an owner or operator with a compliance date extension provided their stationary source remains in compliance with …