METALS Act

Bill: 115-hr-1407
Sponsor: Rep. Hunter, Duncan D. [R-CA-50]
Introduced: 2017-03-07 in the House
Policy area: Armed Forces and National Security
Subjects: Asia
China
Congressional oversight
Energy storage, supplies, demand
Government lending and loan guarantees
Government trust funds
Industrial facilities
Manufacturing
Metals
Military procurement, research, weapons development
Mining
Nuclear power
Public contracts and procurement
Radioactive wastes and releases
Russia
Spacecraft and satellites
Strategic materials and reserves
U.S. and foreign investments

Summary:
action_date: 2017-03-07
text: 

Materials Essential To American Leadership and Security Act or the METALS Act

 
This bill establishes the Strategic Materials Investment Fund. The Administrator of the Defense Logistics Agency Strategic Materials may make expenditures from the fund to develop the domestic strategic and critical materials industrial base, including by making interest-free, five-year loans to domestic producers of such materials and by reimbursing original equipment manufacturers for the increased costs of purchasing such materials produced in the United States. 
 
A domestic producer of such materials shall not be eligible to receive a loan if such producer: (1) is carrying out an activity to develop technologies that would decrease the capacity of the domestic industrial base for such materials or to redesign technologies to reduce the use of such materials in such technologies, (2) has a history of financial insolvency or bankruptcy, or (3) is controlled by or acting on behalf of the People's Republic of China or the Russian Federation. 
 
One-tenth of 1% of the amounts appropriated for all major defense acquisition programs for the development or procurement of aircraft or missiles, taken from funds allocated for internal administration, shall be deposited to the fund. 
 
The Department of Defense (DOD) shall: (1) assess the ability of thorium-fueled nuclear reactors to meet the power generation needs of the Navy; and (2) ensure that any ammonium perchlorate that is incorporated into any item procured by DOD or used to launch a national security payload into space is obtained from sources inside the United States, subject to a national security waiver.
 
The Committee on Foreign Investment in the United States shall not approve any foreign government-controlled transaction relating to a domestic rare earth facility: (1) if a party to such transaction is controlled by or acting on behalf of China or Russia, and (2) without certifying that the transaction does not violate such prohibition and otherwise will not compromise U.S. national security.


Legislative actions:
action_date: 2017-03-17
text: Referred to the Subcommittee on Digital Commerce and Consumer Protection.
action_date: 2017-03-07
text: Referred to the Committee on Armed Services, and in addition to the Committees on Financial Services, Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2017-03-07
text: Referred to the Committee on Armed Services, and in addition to the Committees on Financial Services, Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2017-03-07
text: Referred to the Committee on Armed Services, and in addition to the Committees on Financial Services, Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2017-03-07
text: Referred to the Committee on Armed Services, and in addition to the Committees on Financial Services, Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2017-03-07
text: Referred to the Committee on Armed Services, and in addition to the Committees on Financial Services, Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2017-03-07
text: Introduced in House
action_date: 2017-03-07
text: Introduced in House