Arid Lands Renewable Resources Corporation Act of 1981 - Title I: General Provisions - Declares the purpose of this Act to be to encourage private investment in developing domestic oil and rubber producing plants.

Title II: Establishment of Corporation - Creates the Arid Lands Renewable Resources Corporation. Vests the Corporation's powers in a Board of Directors. Provides for the appointment of an Inspector General and an Advisory Committee to the Board of Directors.

Title III: Production Goal of the Corporation - Requires the Board to develop and submit a comprehensive strategy plan to the Congress within one year of enactment of this Act. Sets forth procedures for: (1) congressional approval of such plan by joint resolution; (2) disapproval of a Corporation action by either House; and (3) congressional approval of an amendment to the plan by concurrent resolution. Directs the Corporation to periodically solicit arid lands resources proposals.

Title IV: Financial Assistance - Authorizes the Corporation to provide financial assistance through price guarantees, loans, and joint ventures.

Title V: Corporation Construction Projects - Authorizes the Corporation to own arid lands resources projects, including construction projects.

Title VI: Capitalization and Finance - Authorizes the Corporation to issue obligations solely to the United States. Grants it tax free status.

Title VI: Unlawful Acts, Penalties, and Suits Against the Corporation - Sets forth penalty and related provisions.

Title VIII: General Provisions - Requires the Corporation to: (1) submit quarterly and annual reports to the President and the Congress; and (2) conduct a study of supplemental financial protection for lenders. Authorizes Western Hemisphere projects.

Title IX: Disposal of Assets - Authorizes the Corporation to dispose of assets.

Title X: Termination of Corporation - Sets forth termination provisions.

Title XI: Department of the Treasury - Authorizes unspecified appropriations.