National Commission on Supplies and Shortages Act

National Commission on Supplies and Shortages Act - Establishes as an independent instrumentality of the Federal Government a National Commission on Supplies and Shortages. Specifies the composition of the Commission.

States that it shall be the function of the Commission to make a report to the President and to the Congress with respect to: (1) the existence or possibility of any long- or short-term shortages or market adversities affecting the supply of any natural resources, raw agriculture commodities, materials, manufactured products, and the reason for such shortages or adversities; (2) the need for and the assessment of alternative actions necessary to increase the availability of the items referred to in clause (1), or to correct the adversity affecting the availability of any such items; (3) existing policies and practices of government which tend to affect the supply of natural resources and other commodities; and (4) the means by which to coordinate information.

Authorizes to be appropriated $500,000 for fiscal year 1975 to carry out the purposes of this Act.