A bill to authorize appropriations for the Department of Defense to address the equipment reset and other equipment needs of the National Guard, and for other purposes.

Authorizes appropriations for FY2008-FY2013 for the Department of Defense (DOD) for the Army and Air National Guards for equipment reset (resupply) requirements, and to otherwise remedy other equipment shortfalls in order to bring the Army and Air National Guards to full equipment readiness.

Requires a report from the Secretary to Congress on the capability of the U.S. defense industrial base to produce the necessary equipment.