Defense Production Act Amendments

(Measure passed House, amended, in lieu of H.R. 10031)

Defense Production Act Amendments - Terminates specified titles of the Defense Production Act on November 30, 1977.

States that authorities extended under title III of the Defense Production Act shall be effective for any fiscal year only to such extent or in such amounts as are provided in advance in appropriation Acts.

Provides that, upon finding that conditions exist which may pose a direct threat to the national defense or its preparedness programs, the President may consult with representatives of industry, business, financing, agriculture, labor, and other interests in order to provide for the making by such person, with the approval of the President, of voluntary agreements to help provide for the defense of the United States through the development of preparedness programs and the expansion of of productive capacity and supply beyond levels needed to meet essential civilian demand in the United States.

Provides for notice and right of interested persons to petition for repeal with respect to the promulgation of rules to implement such voluntary agreements.

States that a voluntary agreement may not become effective unless and until: the individual who is to administer the agreement approves it and certifies, in writing, that the agreement is necessary to carry out the purposes for which it was authorized and (2) the Attorney General (after consultation with the Chairman of the Federal Trade Commission) finds, in writing, that such purpose may not reasonably be achieved through a voluntary agreement having less anti-competitive effects or without any voluntary agreement.

Directs the Attorney General and the Federal Trade Commission to each make surveys for the purpose of determining any factors which may tend to eliminate competition, create or strengthen monopolies, injure small business, or otherwise promote undue concentration of economic power in the course of the administration of this Act.

Requires specific rules for incorporating standards and procedures by which international voluntary agreements may be developed.

States that if S. 622, the Energy Policy and Conservation Act, is passed, then, on its effective date, such provisions relating to voluntary agreements shall not be applicable to such agreements which relate to crude oil, residual fuel oil, or refined petroleum products.

Terminates the Joint Committee on Defense Production as of July 1, 1976.

Directs the Cost Accounting Standards Board to establish criteria and procedures for evaluating the probable costs compared to the benefits of implementation of cost-accounting standards. Requires the Board to report to the Congress on the probable costs and benefits of a proposed standard, rule, or regulation.

Extends through March 31, and makes appropriations for specified provisions of the Defense Production Act.

Authorizes the National Commission on Supplies and Shortages to contract with public or private agencies, institutions, corporations, and other organizations and with individuals.