Strategic and Critical Materials Stock Piling Revision Act of 1981

Strategic and Critical Materials Stock Piling Revision Act of 1981 - Amends the Strategic and Critical Materials Stock Piling Revision Act of 1979 to direct the President to appoint an interagency advisory committee to determine; (1) which materials are strategic and critical to the United States; (2) how much of such material should be stockpiled, and (3) what classification such material should be assigned. Sets forth a formula for determining the quantities of each classification of material to be imported.

Requires that each stockpiled goal be reviewed at least every four years by the interagency committee.

Requires the President, upon the committee's determination, to notify the congressional armed services committees of any proposed new formula for computing the stockpile goal for a particular material. Makes such new goal and formula effective 90 days after such notification unless Congress agrees to a resolution of disapproval.

Amends the Strategic and Critical Materials Stock Piling Act to require that moneys received from the sale of stock pile materials be used to acquire strategic and critical materials.