A bill to provide for the establishment by law of the goals for the National Defense Stockpile, and for other purposes.

Amends the Strategic and Critical Materials Stock Piling Act to express the intent of the Congress that: (1) the National Defense Stockpile be used to serve the interest of national defense only and not for economic or budgetary purposes; and (2) the quantities of materials stored should be sufficient to sustain the United States for a period of not less than three years in the event of a national emergency.

Provides that such strategic materials, together with their quantity and quality and the form in which they are to be acquired and stored, shall be established by law and shall be known as the National Defense Stockpile.

Provides that certain functions of the President under the Strategic and Critical Materials Stock Piling Act (such as stockpile management, disposal authority, the creation of advisory committees, and reports to the Congress) may be delegated only to the Secretary of Defense. Authorizes the Secretary to enter into an interagency agreement with the head of any other department or agency for the performance of such functions.

Provides that appropriations for the operation of the Stockpile and for acquisitions through the Stockpile Transaction Fund shall be made to the Department of Defense as part of the appropriations for military functions of the Department.