Strategic and Critical Materials Stock Piling Revision Act of 1986

Strategic and Critical Materials Stock Piling Revision Act of 1986 - Amends the Strategic and Critical Materials Stock Piling Act of 1979 to provide for determinations to be made as to the quantity of any material to be stockpiled under such Act. Directs the President to appoint an interagency advisory committee (the committee), chaired by the Secretary of Defense, to determine which materials are to be acquired under this Act and their appropriate classification. Outlines procedures for the determination of the quantity and classification of such materials.

Requires the stockpile goal for any material to be reviewed by the committee once every four years. Requires a revised stockpile objective to be established in specified circumstances.

Authorizes the Secretary or the committee to review stockpile goals at other times, but requires the Secretary to notify the Congress in writing when the committee determines that a stockpile goal should be computed in a different manner. Requires the new formula for computing the stockpile goal to be included in such notification, such formula to become effective within 90 days after the Congress receives such notification.