Defense Production Act Amendments of 1984

(Conference report filed in House, H. Rept. 98-651)

Defense Production Act Amendments of 1984 - Amends the Defense Production Act of 1950 to extend its expiration date for two and one-half years, from March 30, 1984, to the end of FY 1986.

Sets forth the criteria under which the President may authorize the guarantee of loans to defense contractors, including: (1) the essentiality of the material or service to the national defense; (2) industry's need for such a guarantee before providing the necessary capability; (3) the cost-effectiveness of the guarantee, considering the alternatives; and (4) that defense demand is equal to or greater than the output of domestic industrial capability which is reasonably determined to be available for national defense.

Sets forth similar criteria for loans to private business enterprises and the purchase of raw materials under such Act. (The criteria set forth are the existing Department of Defense criteria for evaluating project proposals under title III of the Defense Production Act.)

Eliminates the legislative veto provisions from such Act requiring instead that Congress approve proposed loan guarantees, loans, or purchases through the authorization and budget process with established thresholds for appropriations.

Authorizes appropriations for FY 1985 and 1986.

Directs the President to make annual reports to the appropriate congressional committees on the impact of offsets on the defense preparedness, industrial competitiveness, employment, and trade of the United States.