Industrial Base Fund

Subject to subsection (e), the Fund shall be used— The Secretary shall establish procedures for expending monies in the Fund in support of the uses identified in subsection (d), including the following: The Secretary of Defense may use the authorities provided by this section with respect to defense supply chains, including for material, material production, components, subassemblies, and finished products, testing and qualification, infrastructure, facility construction and improvement, and equipment needed directly for the following: The Secretary may not use the authorities provided by subsections (h) through (j) for a purpose other than a purpose described in paragraph (1) unless the Secretary— determines that— For the purposes of creating, maintaining, protecting, expanding, or restoring the capabilities of the domestic industrial base that are essential for the defense interests of the United States, the Secretary may— For the purposes of creating, maintaining, protecting, expanding, or restoring capabilities of the industrial base that are essential for the defense interests of the United States, the Secretary may make purchase commitments— to increase the use of emerging technologies in defense program applications and the rapid transition of emerging technologies— The Secretary may take the actions described in subparagraph (B), if the Secretary finds with respect to a specific material that— Upon a finding under subparagraph (A) with respect to a material, the Secretary may, for the purposes described in paragraph (1), make provision for subsidy payments for such material from sources other than sources that are or that are in covered countries, in such amounts and in such manner, including purchase commitments of such material or component thereof and the resale of such material or component thereof at a loss, and on such terms and conditions, as the Secretary determines necessary to ensure that— The actions described in this section are— For the purposes of section 5(a)(3) of the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98d(a)(3)), with respect to amounts paid under subparagraph (B) for any metal, mineral, material, or component transferred pursuant to this paragraph— For purposes of this paragraph, appropriate actions include— Each report required by paragraph (1) shall include— Not later than 90 days after the date of the enactment of the National Defense Authorization Act for Fiscal Year 2026, the Secretary shall submit to the congressional defense committees, the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Representatives a report detailing how activities carried out under this section will be coordinated with— In this section: The term “covered country” means— The term “reliable source” means a citizen of, or business entity organized under the laws of—