Presidential authorization for the national defense

To reduce current or projected shortfalls of industrial resources, critical technology items, or essential materials needed for national defense purposes, subject to such regulations as the President may prescribe, the President may authorize a guaranteeing agency to provide guarantees of loans by private institutions for the purpose of financing any contractor, subcontractor, provider of critical infrastructure, or other person in support of production capabilities or supplies that are deemed by the guaranteeing agency to be necessary to create, maintain, expedite, expand, protect, or restore production and deliveries or services essential to the national defense.

( Sept. 8, 1950, ch. 932 , title III, § 301, as added Pub. L. 111–67, § 7 , Sept. 30, 2009 , 123 Stat. 2010 .)