National Security Silver Assessment and Disposal Act of 1981

Summary

National Security Silver Assessment and Disposal Act of 1981 - Amends the Omnibus Budget Reconciliation Act of 1981 to revise the President's authority to dispose of silver presently held in the National Defense Stockpile during fiscal years 1982, 1983, and 1984. Requires the President to determine that the silver authorized for disposal is in excess of the requirements of the stockpile as of September 1, 1982. Sets forth the factors the President should consider, including demand and the current reliability of supplies. Directs the President to notify the appropriate committees of Congress of any such determination. Requires that excess silver be disposed of by minting bullion silver coins. Directs the Secretary of the Treasury to report to the appropriate committees of Congress before minting such coins. Requires that the proceeds from the sale of coins be covered into the National Defense Stockpile Transaction Fund. Amends the Omnibus Budget Reconciliation Act of 1981 to authorize appropriations from the National Defense Stockpile Transaction Fund.

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1 official file

• Introduced in Senate

  summary · EN · 6 November 1981

  Open at official source

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