Strategic and Critical Materials Stock Piling Act Law and Legal Definition

Strategic and Critical Materials Stock Piling Act is a federal statute to provide for the acquisition and retention of stocks of certain strategic and critical materials and to encourage the conservation and development of sources of such materials within the U.S. The purpose of the Act is to decrease and to preclude a dangerous and costly dependence by the U.S. upon foreign sources for supplies of strategic and critical materials in times of national emergency. [50 USCS § 98].