Steel and National Security Act

[AI summary unavailable — showing source text] Steel and National Security Act - Amends the Defense Production Act of 1950 to extend through FY 2004: (1) the authorization of appropriations for domestic industrial and technological productive capacity and supply, requiring no less than 50 percent of amounts appropriated to be used solely for purchase commitments; and (2) the authority of such Act. Establishes the National Defense Preparedness Domestic Industrial Base Board to: (1) undertake necessary actions to ensure the uninterrupted availability of national defense-related products, services, and industrial resources through long-term purchase agreements with domestic sources; and (2) study and monitor critical industries, including steel, to determine which are in danger of failing or otherwise losing the capacity to provide for national security. Requires mandatory review of any merger, acquisition, or takeover of any domestic steel company by a foreign person.…