Defense Production Act Amendments of 1986

(Measure passed Senate, amended)

Defense Production Act Amendments of 1986 - Amends the Defense Production Act of 1950 (the Act) to extend specified provisions of the Act and all authority conferred thereunder through September 30, 1989.

Authorizes appropriations for FY 1987 through 1989 for purchase of raw materials and installation of equipment under the Act.

Sets a limit on the aggregate amount of loans, guarantees, purchase agreements, and other actions under specified provisions of this Act during FY 1987 through 1989.

Revises provisions relating to presidential reports on the impact of offsets. Requires that each such report be based on requisite interagency studies designed to progressively capture: (1) the long-term as well as the short-term effects of offsets (particularly the effects resulting from technology transfer associated with offset agreements); and (2) the direct and indirect effects of offsets on lower tier defense subcontractors and on non-defense industry sectors which may be adversely affected by offsets. Requires each such report to contain an appropriate summary of: (1) the scope of such interagency studies; and (2) the findings and conclusions of the agencies involved (including any differences in conclusions).

Amends the Export Administration Amendments Act of 1985 to extend until October 1, 1987, the effective dates for the appointment of an Under Secretary of Commerce for Export Administration and the issuance of and amendments to regulations proposed under such Act.