Strategic and Critical Materials Stock Piling Act Amendments

[AI summary unavailable — showing source text] Strategic and Critical Materials Stock Piling Act Amendments - Amends the Strategic and Critical Materials Stock Piling Act to direct the President to appoint an interagency committee to determine which materials are to be acquired under such Act and what classification each such material shall be assigned. Stipulates that there are three such classifications as follows; (1) Class A materials are those essential and necessary materials not produced or produced in limited quantities in the United States which are obtained primarily from foreign sources; (2) Class B materials are those essential and necessary materials produced in the United States but which are not available in sufficient quantities and are obtained to a substantial extent from foreign sources; and (3) Class C are those essential and necessary materials which are produced in substantial quantities in the United States and are obtained to a lesser extent from foreign sources. Stipulates that the stockpile objectives for Class A materials shall be equal to three years domestic net imports; for Class B materials two years' domestic net imports; and for Class C materials one years' net imports of such material. Requires…