1. (a) Establishment.— The Secretary of Defense shall establish an Industrial Base Fund (in this section referred to as the “Fund”).
2. (b) Control of Fund.— The Fund shall be under the control of the Under Secretary of Defense for Acquisition, Technology, and Logistics, acting through the Deputy Assistant Secretary of Defense for Manufacturing and Industrial Base Policy.
3. (c) Amounts in Fund.— The Fund shall consist of amounts appropriated or otherwise made available to the Fund.

4. (d) Use of Fund.— Subject to subsection (e), the Fund shall be used—

   1. (1) to support the monitoring and assessment of the industrial base required by this chapter;
   2. (2) to address critical issues in the industrial base relating to urgent operational needs;
   3. (3) to support efforts to expand the industrial base; and
   4. (4) to address supply chain vulnerabilities.
5. (e) Use of Fund Subject to Appropriations.— The authority of the Secretary of Defense to use the Fund under this section in any fiscal year is subject to the availability of appropriations for that purpose.

6. (f) Expenditures.— The Secretary shall establish procedures for expending monies in the Fund in support of the uses identified in subsection (d), including the following:

   1. (1) Direct obligations from the Fund.
   2. (2) Transfers of monies from the Fund to relevant appropriations of the Department of Defense.

(Added Pub. L. 111–383, div. A, title VIII, § 896(b)(1), Jan. 7, 2011, 124 Stat. 4315.)

Codification Pub. L. 111–383, div. A, title VIII, § 896(b)(1), Jan. 7, 2011, 124 Stat. 4315, which directed the addition of section 2508 at end of this chapter, was executed by adding this section at the end of subchapter II of this chapter to reflect the probable intent of Congress.

Prior Provisions A prior section 2508 was renumbered section 2522 of this title and subsequently repealed.

A prior section 2509, added Pub. L. 101–510, div. A, title VIII, § 825(a), Nov. 5, 1990, 104 Stat. 1604; amended Pub. L. 102–484, div. A, title X, § 1052(34), Oct. 23, 1992, 106 Stat. 2501, required submission of defense industrial base annual reports, prior to repeal by Pub. L. 102–484, § 4202(a).

A prior section 2510, added Pub. L. 101–510, div. A, title VIII, § 826(a)(1), Nov. 5, 1990, 104 Stat. 1605, related to defense industrial base for textile and apparel products, prior to repeal by Pub. L. 102–484, § 4202(a).