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This section directs the Comptroller General of the United States to submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, not later than one year after the date of enactment of this Act, a study on the efficacy of current methods used by Defense Production Act of 1950 (DPA) agencies (i.e., federal agencies delegated DPA authority) to procure and stockpile DPA-related long-lead items (i.e., components of a system or equipment with the longest design and fabrication times, for which early funding commitments enable earliest completion). The study must (1) examine current procurement and stockpiling practices of such items by DPA agencies, (2) identify ways for federal agencies to collaborate more effectively on procurement and stockpiling, and (3) provide legislative recommendations, including amendments to the DPA.
This section corrects a punctuation error in the short title provision of the Defense Production Act of 1950, effective as of the date of the Act's enactment.