Low Income Energy Assistance Trust Fund Act

Low-Income Energy Assistance Trust Fund Act of 1981 - Amends the Department of Energy Organization Act to make unrefunded petroleum price control overcharges available for energy assistance.

Establishes in the U.S. Treasury the Energy Assistance Trust Fund which shall be available for home energy assistance, residential energy efficiency programs, and other energy programs to assist low-income energy consumers. Appropriates funds which shall be transferred at least monthly from the general fund of the Treasury to the Trust Fund. Requires the Secretary of the Treasury to hold the Trust Fund and report to Congress annually, starting with fiscal year 1982, on the Trust Fund's financial condition and operations for the preceding fiscal year and for the next five fiscal years. Sets forth investment requirements pertaining to the Trust Fund.

Establishes in the Department of Health and Human Services the Office of Energy Special Council. Transfers the Office of Special Counsel of the Department of Energy to the Energy Special Council.

Requires that the Energy Special Council transmit to the President and Congress a plan for the collection of petroleum price control overcharges made in violation of the Emergency Petroleum Allocation Act of 1973. Requires the Comptroller General to review periodically the Energy Special Council's activities and report quarterly to Congress.