MARKET IMPACT COMMITTEE.

SEC. 3314. MARKET IMPACT COMMITTEE. Section 10 of the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98h–1) is amended by adding at the end the following new subsection: (c) (1) The President shall appoint a Market Impact Committee composed of representatives from the Department of Agriculture, the Department of Commerce, the Department of Defense, the Department of Energy, the Department of the Interior, the Department of State, the Department of the Treasury, and the Federal Emergency Management Agency, and such other persons as the President considers appropriate. The representatives from the Department of Commerce and the Department of State shall be Cochairmen of the Committee. “(2) The Committee shall advise the National Defense Stockpile Manager on the projected domestic and foreign economic effects of all acquisitions and disposals of materials from the stockpile that are proposed to be included in the annual materials plan submitted to Congress under section 11(b), or in any revision of such plan, and shall submit to the manager the Committee’s recommendations regarding those acquisitions and disposals. “(3) The annual materials plan or the revision of such plan, as the case may be, shall contain— “(A) the views of the Committee on the projected domestic and foreign economic effects of all acquisitions and disposals of materials from the stockpile; “(B) the recommendations submitted by the Committee under paragraph (2); and “(C) for each acquisition or disposal provided for in the plan or revision that is inconsistent with a recommendation of the Committee, a justification for the acquisition or disposal. “(4) In developing recommendations for the National Defense Stockpile Manager under paragraph (2), the Committee shall consult from time to time with representatives of producers, processors, and consumers of the types of materials stored in the stockpile.”.