S.Amdt. 5757

1. Adds SEC. 1414. SUPPORT FOR UNITED STATES PRODUCERS AND PROCESSORS OF STRATEGIC AND CRITICAL MATERIALS at the end of subtitle B of title XIV

   Adds a section

   In S.Amdt. 5499 as proposed

   (d) Compliance With Strategic and Critical Materials Stock Piling Act.--Any acquisition using funds appropriated pursuant to the authorization of appropriations under subsection (c) shall be carried out in accordance with the provisions of the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.).

   Inserted: SEC. 1414. SUPPORT FOR UNITED STATES PRODUCERS AND PROCESSORS OF STRATEGIC AND CRITICAL MATERIALS.

   Inserted: (a) Authorization of Appropriations.--

   Inserted: (1) In general.--There is authorized to be appropriated to the Defense Production Act Fund under section 304 of the Defense Production Act of 1950 (50 U.S.C. 4534) for fiscal year 2023 $500,000,000 for activities of the Department of Defense pursuant to section 108 and title III of the Defense Production Act of 1950 (50 U.S.C. 4518 and 4531 et seq.).

   Inserted: (2) Requirements for strategic and critical minerals.--Of the amount authorized to be appropriated by paragraph (1), not less than $200,000,000 shall be available to meet the requirements of the Department of Defense for--

   Inserted: (A) materials specified in paragraphs (1) through (8) of section 1413(a); and

   Inserted: (B) components and unfinished precursors of such materials.

   Inserted: (b) Increase in Limitation on Cost of Defense Production Act Projects for Strategic and Critical Materials.--Section 303(a)(6) of the Defense Production Act (50 U.S.C. 4533(a)(6)) is amended--

   Inserted: (1) in subparagraph (B)--

   Inserted: (A) by striking "If the taking" and inserting the following:

   Inserted: "(i) In general.--If the taking";

   Inserted: (B) by inserting "(except as provided in clause (ii))" after "$50,000,000"; and

   Inserted: (C) by adding at the end the following:

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   Inserted: "(ii) Exception for strategic and critical minerals.--If the taking of any action under this subsection to correct a domestic industrial base shortfall in materials, components, or precursors described in section 1414(a)(2) of the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 would cause the aggregate outstanding amount of all such actions for such shortfall to exceed $100,000,000, the action or actions may be taken only after the 30-day period following the date on which the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives have been notified in writing of the proposed action."; and

   Inserted: (2) in subparagraph (C)--

   Inserted: (A) by striking "If the taking" and inserting the following:

   Inserted: "(i) In general.--If the taking";

   Inserted: (B) by inserting "(except as provided in clause (ii))" after "$50,000,000"; and

   Inserted: (C) by adding at the end the following:

   Inserted: "(ii) Exception for rare earth elements and critical minerals.--If the taking of any action or actions under this section to correct an industrial resource shortfall in materials, components, or precursors described in section 1414(a)(2) of the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 would cause the aggregate outstanding amount of all such actions for such industrial resource shortfall to exceed $100,000,000, no such action or actions may be taken, unless such action or actions are authorized to exceed such amount by an Act of Congress.".

   Original wording

   At the end of subtitle B of title XIV, add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed