50 U.S.C. § 98h–1

(a) Establishment There is established a Strategic and Critical Materials Board of Directors (in this subchapter referred to as the “Board”). (b) Members The Board shall be composed, at a minimum, of the following: (1) The Assistant Secretary of Defense for Industrial Base Policy, who shall serve as chairman of the Board. (2) One designee of each of the Secretary of Commerce, the Secretary of State, the Secretary of Energy, and the Secretary of the Interior. (3) One designee of each of the Chairman and Ranking Member of the Readiness Subcommittee of the House Committee on Armed Services. (4) One designee of each of the Chairman and Ranking Member of the Readiness Subcommittee of the Senate Committee on Armed Services. (5) Four designees of the chairman of the Board, who shall have expertise relating to military affairs, defense procurement, production of strategic and critical materials, finance, or any other disciplines deemed necessary by the chairman to conduct the business of the Board. (c) Duties of the Board In addition to other matters assigned to it by the chairman, the Board shall conduct the following, without power of delegation: (1) Adopt by-laws that ensure sufficient oversight, governance, and effectiveness of the National Defense Stockpile program. (2) Elect or remove Board members. (3) Advise the National Defense Stockpile Manager. (4) Establish performance metrics and conduct an annual performance review of the management and operations of the National Defense Stockpile program. (5) Review and approve the annual budget of the National Defense Stockpile program and conduct appropriate reviews of annual financial statements. (6) Re-allocate budget resources within the annual budget of the National Defense Stockpile program. (7) Review and approve the Annual Materials and Operations Plan required by section 98h–2(a) of this title . The report required by section 98h–2(b)(2) of this title shall include the views and recommendations of the Board on the projected domestic and foreign economic effects of all acquisition of materials for and disposals of materials from the stockpile. (8) Complete and submit the annual Board Report, in accordance with section 98h–2(b)(2) of this title . (9) Recommend to the Secretary of Defense— (A) a strategy to ensure a secure supply of materials designated as critical to national security; and (B) such other strategies as the Board considers appropriate to strengthen the industrial base with respect to materials critical to national security. (d) Board meetings The Board shall meet as determined necessary by the chairman but not less frequently than once every year to fulfill the duties described in subsection (c). (e) Application of provisions relating to Federal advisory committees Section 1013(a) of title 5 shall not apply to the Board. (f) Definitions In this section: (1) Materials critical to national security The term “materials critical to national security” means materials— (A) upon which the production or sustainment of military equipment is dependent; and (B) the supply of which could be restricted by actions or events outside the control of the Government of the United States. (2) Military equipment The term “military equipment” means equipment used directly by the Armed Forces to carry out military operations. (3) Secure supply The term “secure supply”, with respect to a material, means the availability of a source or sources for the material, including the full supply chain for the material and components containing the material.