Page:United States Statutes at Large Volume 106 Part 5.djvu/568

 106 STAT. 4206 PUBLIC LAW 102-558—OCT. 28, 1992 "(B) upon a determination by the President, on a nondelegable basis, that a specific guarantee is necessary to avert an industrial resource or critical technology shortfall that would severely impair national defense capability.". (2) PURCHASE PERIODS. —Section 303(b) of the Defense Production Act of 1950 (50 U.S.C. 2093(b)) is amended by striking "September 30, 1995" and inserting "a date that is not more than 10 years from the date such purchase, purchase commitment, or sale was initially made". (d) DEVELOPING SUBSTITUTES.— Section 303(g) of the Defense Production Act of 1950 (50 U.S.C. App. 2093(g)) is amended by inserting before the period the following: ", critical components, critical technology items, and other industrial resources". SEC. 122. DEFENSE PRODUCTION ACT FUND. Section 304 of the Defense Production Act of 1950 (50 U.S.C. App. 2094) is amended to read as follows: "SEC. 304. DEFENSE PRODUCTION ACT FUND. "(a) ESTABLISHMENT OF FuND.There is established in the Treasury of the United States a separate fund to be known as the Defense Production Act Fund (hereafter in this section referred to as'the Fund'). "(b) MONEYS IN FUND. — There shall be credited to the Fund— "(1) all moneys appropriated for the Fund, as authorized by section 711(c); and "(2) all moneys received by the Fund on transactions entered into pursuant to section 303. "(c) USE OF FUND. —The Fund shall be available to carry out the provisions and purposes of this title, subject to the limitations set forth in this Act and in appropriations Acts. "(d) DURATION OF FUND. —Moneys in the Fund shall remain available until expended. "(e) FUND BALANCE. — The Fund balance at the close of each fiscal year shall not exceed $400,000,000, excluding any moneys appropriated to the Fund during that fiscal year or obligated funds. If, at the close of any fiscal year, the Fund balance exceeds $400,000,000, the amount in excess of $400,000,000 shall be paid into the general fund of the Treasury. President. " (f) FuND MANAGER. —The President shall designate a Fund manager. The duties of the Fund manager shall include— "(1) determining the Uability of the Fund in accordance with subsection (g); "(2) ensuring the visibility and accountability of transactions engaged in through the Fund; and Reports. "(3) reporting to the Congress each year regarding activities of the Fund during the previous fiscal year. "(g) LIABILITIES AGAINST FUND. — When any agreement entered into pursuant to this title after December 31, 1991, imposes any contingent liability upon the United States, such liability shall be considered an obligation against the Fund.". 50 USC app. SEC. 123. DECLARATION OF OFFSET POLICY. (a) IN GENERAL.— Recognizing that certain offsets for mihtary exports are economically inefficient and market distorting, and mindful of the need to minimize the adverse effects of offsets in military exports while ensuring that the ability of United States

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