National Economic Stockpile Association Act

Summary

National Economic Stockpile Association Act - Adds a new title to the Defense Production Act establishing a corporation to be known as the National Economic Stockpile Association with an 11-member board of directors who shall appoint a Director to supervise the administration of the Association. Enumerates criteria to be considered by the board in determining the necessity of purchases or sales of natural resources in order to maintain domestic economic security and to assure the orderly operation of the market system. Provides that purchases shall be authorized by simple majority vote of the full board of directors. Requires that sales be made only to domestic industries on a competitive bidding basis. States that natural resources sold to domestic industries from the stockpile must be transformed, converted, or processed within the United States. Authorizes the Association to issue obligations at interest rates and maturities approved by the Secretary of the Treasury to finance its operations. Authorizes the Association to charge for its services with the objective that the Association be self-supporting. Authorizes to be appropriated for fiscal year 1976 $750,000 to carry out this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 15 September 1975

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.