Modifications to Strategic and Critical Materials Stock Piling Act

(a) National Defense Stockpile shortfall briefings changes Section 14(f)(2) of the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98h-5(f)(2)) is amended— (1) in subparagraph (A)— (A) by striking a description of each material and inserting a list of the materials; and (B) by inserting and a description of each such material, after paragraph,; (2) in subparagraph (B), by striking and at the end; (3) in subparagraph (C), by striking the period at the end and inserting a semicolon; and (4) by adding at the end the following new subparagraphs: (D) a list of such materials that are the highest priority to be acquired for the stockpile in the near term; (E) verification that the National Defense Stockpile Manager manages and evaluates the stockpile using the most complete and accurate data provided by the military departments (as defined under section 101(a) of title 10, United States Code), including a one-time description of the risks resulting from the inability of the armed services to provide the National Defense Stockpile Manager comprehensive data for all of its required strategic and critical materials; and (F) the amounts appropriated by Congress to the stockpile for both the current fiscal year and the previous fiscal year;. (b) Modification of disposal authority (1) In general Section 5(b) of the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98d(b)) is amended— (A) by inserting (1) after (b); (B) by striking or (5) and inserting or (6); (C) by striking has been specifically authorized by law and inserting was included in the most recent annual materials plan submitted to the congressional defense committees (as defined in section 101(a) of title 10, United States Code) under section 11(b)(1)(G); and (D) by adding at the end the following new paragraph: (2) Not later than 15 days after making a disposal under paragraph (1), the National Defense Stockpile Manager shall notify the congressional defense committees (as defined in section 101(a) of title 10, United States Code) of the disposal.. (2) Technical and conforming amendments Section 6(a) of such Act (50 U.S.C. 98e(a)) is amended— (A) in the matter preceding paragraph (1), by striking President and inserting National Defense Stockpile Manager; and (B) by amending paragraph (7) to read as follows: (7) dispose of materials in the stockpile in accordance with the most recent annual materials plan submitted to the congressional defense committees (as defined in section 101(a) of title 10, United States Code) under section 11(b)(1)(G) and notify the congressional defense committees of such disposals as required by section 5(b)(2).. (c) Reduction of wait periods Sections 5(a)(2), 6(d)(1), and 6(d)(2) of such Act (50 U.S.C. 98d(a)(2), 98e(d)(1), 98e(d)(2)) are each amended by striking 45 days and inserting 30 days.