National Defense Stockpile Act

Amends the Strategic and Critical Materials Stockpiling Act to rename such Act the "National Defense Stockpile Act.

Directs the President to determine from time to time which materials are strategic and critical and to determine the quantity and form in which such materials shall be acquired and stored. Establishes guidelines for the President to follow in making such determinations.

Stipulates that as of October 1, 1978, the National Defense Stockpile shall consist of those materials presently contained in the national stockpile, the supplemental stockpile, and the Defense Production Inventory.

Directs the President to appoint an administrator of the National Defense Stockpile to have overall management responsibility for such stockpile.

Establishes procedures for the acquisition or disposal of stockpile materials. Directs the Administrator to establish a barter program to carry out such acquisitions or disposals.

Authorizes the President to order the disposition of stockpile material when such a disposition is required for the common defense or in response to a national emergency.

Authorizes appropriations for the routine operations of the stockpile.

Establishes within the Treasury the National Defense Stockpile Transaction Fund for the acquisition of strategic and critical materials.

Authorizes the President to appoint advisory committees from industries concerned with specific materials if the President deems such action appropriate.

Directs the President to submit a report to Congress every six months detailing the operations undertaken pursuant to this Act.