50 U.S.C. § 4534 — Defense Production Act Fund

Page 1120 TITLE 50—WAR AND NATIONAL DEFENSE § 4534 Pub. L. 116–136, set out as a note under section 4532 of this title. AUTHORIZATION TO TAKE ACTIONS TO CORRECT THE IN- DUSTRIAL RESOURCE SHORTFALL FOR HIGH-PURITY BERYLLIUM METAL Pub. L. 111–84, div. A, title VIII, § 842, Oct. 28, 2009, 123 Stat. 2418, provided that: ‘‘Notwithstanding any limita- tion in section 303 of the Defense Production Act of 1950 (50 U.S.C. App. 2093) [now 50 U.S.C. 4533], an action may be taken under such section to correct an industrial re- source shortfall or domestic industrial base shortfall for high-purity beryllium metal if such action does not cause the aggregate outstanding amount of all such ac- tions for such shortfall to exceed ‘$85,000,000’.’’ RESOURCE SHORTFALL FOR RADIATION-HARDENED ELECTRONICS Pub. L. 108–195, § 3, Dec. 19, 2003, 117 Stat. 2892, pro- vided that: ‘‘(a) IN GENERAL.—Notwithstanding the limitation contained in [former] section 303(a)(6)(C) of the Defense Production Act of 1950 ([former] 50 U.S.C. App. 2093(a)(6)(C)), the President may take actions under section 303 of the Defense Production Act of 1950 to cor- rect the industrial resource shortfall for radiation- hardened electronics, to the extent that such Presi- dential actions do not cause the aggregate outstanding amount of all such actions to exceed $200,000,000. ‘‘(b) REPORT BY THE SECRETARY.—Before the end of the 6-month period beginning on the date of the enact- ment of this Act [Dec. 19, 2003], the Secretary of De- fense shall submit a report to the Committee on Bank- ing, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Rep- resentatives describing— ‘‘(1) the current state of the domestic industrial base for radiation-hardened electronics; ‘‘(2) the projected requirements of the Department of Defense for radiation-hardened electronics; ‘‘(3) the intentions of the Department of Defense for the industrial base for radiation-hardened elec- tronics; and ‘‘(4) the plans of the Department of Defense for use of providers of radiation-hardened electronics beyond the providers with which the Department had entered into contractual arrangements under the authority of the Defense Production Act of 1950 [50 U.S.C. 4501 et seq.], as of the date of the enactment of this Act.’’ Pub. L. 107–314, div. A, title VIII, § 829, Dec. 2, 2002, 116 Stat. 2618, provided that: ‘‘Notwithstanding the limita- tion in [former] section 303(a)(6)(C) of the Defense Pro- duction Act of 1950 ([former] 50 U.S.C. App. 2093(a)(6)(C)), action or actions may be taken under sec- tion 303 of that Act to correct the industrial resource shortfall for radiation-hardened electronics, if such ac- tions do not cause the aggregate outstanding amount of all such actions to exceed $106,000,000.’’ Executive Documents DELEGATION OF FUNCTIONS Authority of President under this section delegated to Chief Executive Officer of the United States Inter- national Development Finance Corporation, see section 2 of Ex. Ord. No. 13922, May 14, 2020, 85 F.R. 30583, set out as a note under section 4532 of this title. Authority of President under this section with re- spect to responding to the spread of COVID–19 within the United States delegated to Secretary of Health and Human Services and the Secretary of Homeland Secu- rity, see section 2 of Ex. Ord. No. 13911, Mar. 27, 2020, 85 F.R. 18403, set out as a note under section 4511 of this title. Functions of President under this chapter relating to production, conservation, use, control, distribution, and allocation of energy, delegated to Secretary of En- ergy, see section 4 of Ex. Ord. No. 11790, June 25, 1974, 39 F.R. 23185, set out as a note under section 761 of Title 15, Commerce and Trade. For delegation of certain authority of President under this section, see sections 303(a), 304, 305(b), and 306–308 of Ex. Ord. No. 13603, Mar. 16, 2012, 77 F.R. 16654, 16655, set out as a note under section 4553 of this title. EXECUTIVE WAIVER OF LIMITATIONS Requirements of subsec. (a)(1) to (6) of this section waived during the national emergency declared by Proc. No. 9994, Mar. 13, 2020, 85 F.R. 15337, set out as a note under section 1621 of this title, see section 2(c) of Ex. Ord. No. 13911, Mar. 27, 2020, 85 F.R. 18404, set out as a note under section 4511 of this title. § 4534. Defense Production Act Fund (a) Establishment of Fund There is established in the Treasury of the United States a separate fund to be known as the ‘‘Defense Production Act Fund’’ (in this sec- tion referred to as the ‘‘Fund’’). (b) Moneys in Fund There shall be credited to the Fund— (1) all moneys appropriated for the Fund, as authorized by section 4561 of this title; and (2) all moneys received by the Fund on transactions entered into pursuant to section 4533 of this title. (c) Use of Fund The Fund shall be available to carry out the provisions and purposes of this subchapter, sub- ject to the limitations set forth in this chapter and in appropriations Acts. (d) Duration of Fund Moneys in the Fund shall remain available until expended. (e) Fund balance The Fund balance at the close of each fiscal year shall not exceed $750,000,000, excluding any moneys appropriated to the Fund during that fiscal year or obligated funds. If, at the close of any fiscal year, the Fund balance exceeds $750,000,000, the amount in excess of $750,000,000 shall be paid into the general fund of the Treas- ury. (f) Fund manager The President shall designate a Fund man- ager. The duties of the Fund manager shall in- clude— (1) determining the liability of the Fund in accordance with subsection (g); (2) ensuring the visibility and accountability of transactions engaged in through the Fund; and (3) reporting to the Congress each year re- garding activities of the Fund during the pre- vious fiscal year. (g) Liabilities against Fund When any agreement entered into pursuant to this subchapter after December 31, 1991, imposes any contingent liability upon the United States, such liability shall be considered an obligation against the Fund. (Sept. 8, 1950, ch. 932, title III, § 304, as added Pub. L. 111–67, § 7, Sept. 30, 2009, 123 Stat. 2017.) TERMINATION OF SECTION For termination of section, see section 4564(a) of this title. Page 1121 TITLE 50—WAR AND NATIONAL DEFENSE § 4535 Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsec. (c), was in the original ‘‘this Act’’, meaning act Sept. 8, 1950, ch. 932, 64 Stat. 798, known as the Defense Production Act of 1950, which is classified principally to this chapter. For complete classification of this Act to the Code, see sec- tion 4501 of this title and Tables. CODIFICATION Section was formerly classified to section 2094 of the former Appendix to this title prior to editorial reclassi- fication and renumbering as this section. PRIOR PROVISIONS A prior section 304, act Sept. 8, 1950, ch. 932, title III, 64 Stat. 802; June 2, 1951, ch. 121, Ch. XI, 65 Stat. 61; July 31, 1951, ch. 275, title I, § 103(b), (c), 65 Stat. 134; Pub. L. 86–560, § 2, June 30, 1960, 74 Stat. 282; Pub. L. 88–343, § 3, June 30, 1964, 78 Stat. 235; Pub. L. 93–426, § 2, Sept. 30, 1974, 88 Stat. 1166; Pub. L. 102–558, title I, § 122, Oct. 28, 1992, 106 Stat. 4206; Pub. L. 107–47, § 4(4), Oct. 5, 2001, 115 Stat. 260, related to Defense Production Act Fund, was omitted in the general amendment of title III of the Act by Pub. L. 111–67. Statutory Notes and Related Subsidiaries INCREASING ACCESS TO MATERIALS NECESSARY FOR NATIONAL SECURITY AND PANDEMIC RECOVERY Requirement described in subsec. (e) of this section not applicable during the 2-year period beginning on Mar. 27, 2020, see section 4017(1) of Pub. L. 116–136, set out in a note under section 4532 of this title. DEFENSE PRODUCTION ACT FUND MANAGER Secretary of Defense designated Defense Production Act Fund Manager in accordance with subsec. (f) of this section, see section 309 of Ex. Ord. No. 13603, Mar. 16, 2012, 77 F.R. 16655, set out as a note under section 4553 of this title. Executive Documents EXECUTIVE ORDER NO. 12346 Ex. Ord. No. 12346, Feb. 8, 1982, 47 F.R. 5993, related to the transition of synthetic fuel responsibilities from the Department of Energy to the United States Syn- thetic Fuels Corporation, revoked Ex. Ord. No. 12242, and provided that the provisions of Ex. Ord. No. 12242 would continue in full force and effect with respect to any loan guarantee issued under its provisions. § 4535. Reports on exercise of authorities (a) In general The President, or the head of an agency to which the President has delegated authorities under this subchapter, shall submit a report and provide a briefing to the appropriate congres- sional committees with respect to any action taken pursuant to such authorities— (1) except as provided by paragraph (2), not later than 30 days after taking the action; and (2) in the case of an action that involves a business concern in the United Kingdom or Australia, not later than 30 days before taking the action. (b) Elements (1) In general Each report and briefing required by sub- section (a) with respect to an action described in that subsection shall include— (A) a justification of the necessity of the use of authorities under this subchapter; and (B) a description of the financial terms of any related financial transaction. (2) Additional elements relating to business concerns in the United Kingdom or Aus- tralia Each report and briefing required by sub- section (a) with respect to an action described in paragraph (2) of that subsection shall in- clude, in addition to the elements under para- graph (1)— (A) a certification that business concerns in the United States or Canada were not available with respect to the action; and (B) an analysis of why such business con- cerns were not available. (c) Appropriate congressional committees de- fined In this section, the term ‘‘appropriate congres- sional committees’’ means— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate and the Com- mittee on Financial Services of the House of Representatives; and (2) in the case of an action described in sub- section (a) involving materials critical to na- tional security (as defined in section 4552(7)(B)(ii)(II)(bb) of this title), the Com- mittee on Energy and Natural Resources of the Senate and the Committee on Natural Re- sources of the House of Representatives. (Sept. 8, 1950, ch. 932, title III, § 305, as added Pub. L. 118–31, div. A, title X, § 1080(b), Dec. 22, 2023, 137 Stat. 416.) Editorial Notes PRIOR PROVISIONS Prior sections 305 to 310 of act Sept. 8, 1950, ch. 932, were omitted in the general amendment of title III of the Act by Pub. L. 111–67. Section 305, act Sept. 8, 1950, ch. 932, title III, as added Pub. L. 96–294, title I, § 104(e), June 30, 1980, 94 Stat. 619; amended Pub. L. 107–314, div. A, title X, § 1062(o)(3), Dec. 2, 2002, 116 Stat. 2653, related to syn- thetic fuel production. Section 306, act Sept. 8, 1950, ch. 932, title III, as added Pub. L. 96–294, title I, § 104(e), June 30, 1980, 94 Stat. 623; amended Pub. L. 107–314, div. A, title X, § 1062(o)(3), Dec. 2, 2002, 116 Stat. 2653, related to syn- thetic fuel production subsequent to determinations re- specting a national energy supply shortage of defense fuels. Section 307, act Sept. 8, 1950, ch. 932, title III, as added Pub. L. 96–294, title I, § 104(e), June 30, 1980, 94 Stat. 628; amended Pub. L. 102–558, title I, § 151, Oct. 28, 1992, 106 Stat. 4218, related to synthetic fuel action. Section 308, act Sept. 8, 1950, ch. 932, title III, as added Pub. L. 96–294, title I, § 104(e), June 30, 1980, 94 Stat. 631, related to definitions of ‘‘Government syn- thetic fuel project’’, ‘‘synthetic fuel’’, ‘‘synthetic fuel project’’, and ‘‘United States’’. Section 309, act Sept. 8, 1950, ch. 932, title III, as added Pub. L. 98–265, § 6, Apr. 17, 1984, 98 Stat. 152; amended Pub. L. 99–441, § 4, Oct. 3, 1986, 100 Stat. 1117; Pub. L. 102–558, title I, § 124, Oct. 28, 1992, 106 Stat. 4207; Pub. L. 107–47, § 4(5), Oct. 5, 2001, 115 Stat. 260, related to annual report on impact of offsets. See section 4568 of this title. Section 310, act Sept. 8, 1950, ch. 932, title III, as added Pub. L. 102–558, title I, § 125, Oct. 28, 1992, 106 Stat. 4208, related to civil-military integration.