Defense Economic Adjustment Act

[AI summary unavailable — showing source text] Defense Economic Adjustment Act - Title I: Defense Economic Adjustment Council - Establishes within the Executive Office of the President the Defense Economic Adjustment Council. Establishes an Office of Economic Adjustment to provide necessary staff support for the Council. Sets forth the duties of the Council which include: (1) disseminating information to Federal, State, and local agencies and authorities concerning changes in defense spending affecting employment in defense industries; (2) oversight of programs providing assistance to areas adversely affected by such changes; (3) reviewing local alternative use plans; and (4) preparing and distributing a Conversion Guidelines Handbook. Title II: Alternative Use Committees - Requires the establishment, at every defense facility employing at least 100 persons, of Alternative Use Committees representing management and labor to undertake economic conversion planning and preparation for the employment of the personnel and utilization of the facilities in the event of a reduction or elimination of any defense facility or the curtailment, conclusion, or disapproval of any defense contract. Stipulates that defense contractors which fai…